What is the expense resulting from the increase in the carrying amount of an asset retirement obligation?
A)contingent expense
B)accretion expense
C)vested expense
D)depletion expense

Question

Quizplus · Accepted Answer

The increase in the carrying amount of an asset retirement obligation results in an accretion expense. This is the increase in the carrying amount of the obligation over time due to the passage of time or changes in the expected cash flows.

What Is the Expense Resulting from the Increase in the Carrying