Question Completion Status: Question: How should the entity account for the exploratory costs in view of the post balance sheet event? A. GBP 550,000 should remain capitalized by the entity in the financial statements for the year ended December 31, 2010, B. If the amount is material, disclosure should be provided in the financial statements of the additional activity during the subsequent period that determined the prospect was unsuccessful. C. The asset of GBP 550,000 and also the costs of GBP 250,000 would be expensed in the 2011 financial statements D. All of the above are correct Question Completion Status: Question: How should the entity account for the exploratory costs in view of the post balance sheet event? A. GBP 550,000 should remain capitalized by the entity in the financial statements for the year ended December 31, 2010, B. If the amount is material, disclosure should be provided in the financial statements of the additional activity during the subsequent period that determined the prospect was unsuccessful. C. The asset of GBP 550,000 and also the costs of GBP 250,000 would be expensed in the 2011 financial statements D. All of the above are correct