Question

In computing DD&A for a full cost company: Group of answer choices A. Leasehold cost is...

In computing DD&A for a full cost company:

Group of answer choices

A. Leasehold cost is amortized over proved reserves and IDC and lease and well equipment are amortized over proved reserves.

B. Leasehold cost is amortized over proved reserves and IDC and lease and well equipment are amortized over proved developed reserves.

C. Leasehold cost is amortized over proved developed reserves and IDC and lease and well equipment are amortized over proved reserves.

D. Leasehold cost is amortized over proved developed reserves and IDC and lease and well equipment are amortized over proved developed reserves.

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Answer #1

Solution: Leasehold cost is amortized over proved reserves and IDC and lease and well equipment are amortized over proved developed reserves.

Explanation: The depreciation, depletion, and amortization (DD&A) is the systematic writing off of cost of capitalization against revenues as revenues are earned. The acquisition costs will be amortized over proved reserves; and lease and well equipment are amortized over proved developed reserves. The lease and well equipment are amortized over proved developed reserves to ensure that full cost and expectations is incurred when earned

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