Question: Replace the following weak Codification references with stronger language. a. I found the following guidance in ASC 330-10-30-1, The primary basis of accounting for inventories

Replace the following weak Codification references with stronger language.

a. I found the following guidance in ASC 330-10-30-1, The primary basis of accounting for inventories is cost . . .

b. In the Codification, ASC 720-15-25-1 says that Costs of start-up activities, including organization costs, shall be expensed as incurred.

c. Per GASB Statement No. 51, . . . all intangible assets not specifically excluded by its scope provisions be classified as capital assets. (Summary page).

[Hint: One of the above examples starts with a strong reference, but the reference doesnt flow with the rest of the quote. Find a way to fix this.]

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