?

Which of the following statements is(are) correct regarding
the treatment of start-up activities related to the opening of a new
facility?

I. Costs of raising capital should be expensed as incurred.

II. Costs of acquiring or constructing long-lived assets and getting
them ready for their intended use should be expensed as
incurred.

III. Cost of research and development should be expensed as
incurred.