Land and development cost incurred by a company in constructing a project, which comprises certain land development
Question:
Land and development cost incurred by a company in constructing a project, which comprises certain land development expenses, is irrelevant even if such project is not commissioned. Then how should these be recognized?
(a) It is to be capitalized.
(b) It is to be expensed.
(c) Either of these.
(d) None of these.
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