Successful-efforts accounting is the method that requires the cost of unsuccessful wells be expensed in the current period
The successful method accounting can be defined to be the type of accounting that is done which is known to allow a company to capitalize on the expenses that hey have made from being able to locate a new oil and gas reserves in a successful way.
Hence we can say that the Successful-efforts accounting is the method that requires the cost of unsuccessful wells be expensed in the current period
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