Question

Identify the costs associated with the initial valuation of a developed natural resource. please answer in your own words, do not use the outside resources.

Answer 1

ANSWER :

The costs associated with the initial valuation of developed natural resources can include:  

• Acquisitions Costs :

Costs identified with gain the option to investigate for unfamiliar characteristic asset or to separate found common asset.

• Exploration Costs :

The use caused identified with boring a well, uncovering a mine, or some other expenses of scanning for regular asset is named as Exploration costs.

• Development Costs :

The use acquired after the disclosure of regular asset however before the start of the creation.

• Restoration Costs :

The cost identified with reclamation of land or other property after extraction of regular asset is over can be named as rebuilding cost. It is a case of Asset retirement commitment.

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