Question: When a property is sold under the full cost method, Group of answer choices no gain or loss should be recognized, in general. gain but

When a property is sold under the full cost method, Group of answer choices no gain or loss should be recognized, in general. gain but not loss should be recognized. loss but not gain should be recognized. gain should be recognized only if the property was excluded from the amortization cost pool.Halen Oil Company adopts the full cost accounting. The company acquired shooting rights to 1,000 acres (Lease A), paying $15,000. The company should have the journal entries as: Group of answer choices G&G costs - nondirect 15,000 Cash 15,000 Unproved property - Lease A 15,000 Cash 15,000 Unproved property - Delay rental 15,000 Cash 15,000 Wells-in-progress - L&WE 15,000 G&G costs - nondirect 15,000

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