Accounting for Natural Resources

question 21

Multiple Choice

Accounting for natural resources:

• A)involves using the accumulated depreciation account.
• B)involves estimating the quantity of the natural resource to be recovered.
• C)involves an exception to the matching concept.
• D)involves a double-declining balance depletion calculation.

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Definitions:

Calculate

To calculate means to determine the amount or number of something by using mathematical processes.

Birth Rate

The number of live births per thousand of population per year.

Population

The total set of individuals or items of interest for statistical, analytical, or research purposes.

Per Annum

An expression meaning "for each year," used to describe rates or amounts calculated on an annual basis.