An asset retirement obligation should be recognized when

Question $15$Answer

a$.$

an asset is impaired and is available for sale.

b$.$

operation of an asset has resulted in an unexpected additional current obligation such as the cost of cleaning up an oil spill.

c$.$

there is a legal obligation to make expenditures to restore the site of the asset at the time of closure.

d$.$

an obligation exists to purchase a long$-$lived asset.

e$.$

None of the above.