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In: AccountingThe cost of acquiring an asset includes the costs necessary tobring it to the condition...The cost of acquiring an asset includes the costs necessary tobring it to the condition and location necessary for its intendeduse. there are four stages during which costs can be incurredrelated to fixed assets:· Preliminarystage,· Pre-acquisition stage,· Acquisition orconstruction stage (herein referred to as the constructionstage),· In-servicestagePlease, provide a summary of some types of costs incurred duringall stages of construction or acquisition of a capitalasset/project. Discuss what sort of costs can be capitalized duringeach of the stages.
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