Which of the following statements best describes the accounting treatment for pre- opening costs for new businesses?
A)They should always be capitalized.
B)They should always be expensed.
C)Certain cost, such as mail order catalogues, may be capitalized under Private Entity
D)Certain cost, such as mail order catalogues, may be capitalized under IFRS.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements best describes the accounting treatment for pre- opening costs for new businesses?
A)They should always be capitalized.
B)They should always be expensed.
C)Certain cost, such as mail order catalogues, may be capitalized under Private Entity
D)Certain cost, such as mail order catalogues, may be capitalized under IFRS.

Which of the Following Statements Best Describes the Accounting Treatment