The Proper Accounting for Natural Resources Is to Record the Original

question 283

Multiple Choice

The proper accounting for natural resources is to record the original cost as an:

• A)asset,then later transfer amounts to Inventory as the resource is depleted,and finally expense the cost as the resources are sold.
• B)asset,then expense the cost over its useful life.
• C)expense in the period purchased.
• D)asset,and then expense the cost over its useful life using straight-line depreciation.

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Definitions:

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