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ACCOUNTING

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03 December 2020 Hi. One of my client has incurred soil investigation costs originally intended for building construction. However, the construction was cancelled. What type of expense should I recognize the incurred Soil Investigation, Engineering and Architectural services? I initially capitalized the said costs as CIP and want to reclassify as an expense.
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CA SANKET GARG

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CA SANKET GARG (Expert)
06 December 2020 It is revenue expense.
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