Answer the following questions with regard to infrastructure: a. What is infrastructure? b. What…

Answer the following questions with regard to infrastructure:

a. What is infrastructure?

b. What are the two methods that might be used to record infrastructure expense from year to year? How is the accounting different under the two methods?

c. What conditions must exist in order to use the modified approach to record and report infrastructure? d. What are the disclosure requirements if the modified approach is used?