You decide to get into the oil and gas business after graduation. You purchase a large tract of land in North Dakota to search for these natural resources. However, as part of the land purchase and in order to begin extraction, you agree with the state of North Dakota to return the land back to its original appearance once you are done extracting. Find and interpret ASC guidance for how to account for this circumstance. (You may need to cite more than one paragraph.)

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.