CAL inc recently started a zipline operation in Kamloops, British Columbia. As part of an initiative to boost tourism, the Canadian government agreed to loan the necessary land to CAL for a five-year period. The agreement with the government requires that CAL commit to restoring the land to its original condition at the end of the five-year project. This will involve removing the cables and platforms and replanting portions of the forest that were cut down for the installation of the platforms. The trees were cleared and the equipment was installed shortly after receiving the land from the government at the beginning of the current fiscal year in January sed out of

Required:

Analyze the financial reporting and address should a provision for decommissioning costs be recorded in the current fiscal year?

Answer rating: 100% (QA)

Yes a provision for decom mission ing costs should be recorded in t... View the full answer