You decide to get into the mining business after graduation. You purchase a large tract of land in the foothills of the Sierra Nevada mountains to search for precious minerals. However, as part of the land purchase and in order to begin mining, you agree with the state of California to return the land back to its original appearance once you are done mining. Required:
Find and interpret ASC guidance for how to account for this circumstance.

The government often provides goods that are nonrivalrous and nonexclusive to overcome which market failure

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product