If a Mining Company Extracts 2,000,000 Tons in a Period

question 23

Multiple Choice

If a mining company extracts 2,000,000 tons in a period but only sells 1,500,000 tons,

• A) total depletion on the mine is based on the 1,500,000 tons.
• B) depletion expense is recognized on the 2,000,000 tons extracted.
• C) depletion expense is recognized on the 1,500,000 tons extracted and sold.
• D) a separate accumulated depletion account is set up to record depletion on the 500,000 tons extracted but not sold.

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Definitions:

Hypnotized

A trance-like state resembling sleep, typically induced by a therapist by focusing a person's attention, that heightens their suggestibility, memory, and imagination.

Freudian Terms

Concepts and theories developed by Sigmund Freud that focus on the unconscious mind, psychosexual stages, and defense mechanisms among others.

Manifest Content

In psychoanalytic theory, the apparent, literal content of a dream, as opposed to the hidden or symbolic meaning (latent content).

Latent Content

In psychoanalytic theory, the underlying, hidden meaning of dreams as opposed to their manifest content, or the literal storyline of the dream.