Under the successful efforts method,the costs of both successful and unsuccessful exploration for oil and gas are recorded as assets.

Name: Under the successful efforts method,the costs of both successful and unsuccessful exploration for oil and gas are recorded as assets.
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Under the successful efforts method, only the costs associated with successful exploration for oil and gas are capitalized as assets, while the costs associated with unsuccessful exploration are expensed as incurred.

Under the Successful Efforts Method,the Costs of Both Successful and Unsuccessful