Scone Industries Acquired a Gold Mine for $8,000,000

question 13

Multiple Choice

Scone Industries acquired a gold mine for $8,000,000.It is estimated that 40,000 ounces of gold can be extracted from the mine.In the first year of operations,15,000 ounces of gold were extracted.Scone Industries would recognize

• A)an increase in net income of $3,000,000.
• B)depreciation expense of $3,000,000.
• C)cost of goods sold of $3,000,000.
• D)amortization expense of $3,000,000.
• E)depletion expense of $3,000,000.

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Definitions:

Unconscious

Pertaining to the part of the mind that is inaccessible to the conscious mind but influences behaviors, thoughts, and feelings.

Neural Processing

The method by which the nervous system receives, interprets, and responds to signals from the sensory organs or other neural inputs.

Automatic Emotional Responses

Immediate and unconscious emotional reactions to certain stimuli or situations without deliberate thought.

Joseph LeDoux

A neuroscientist known for his work on survival circuits, including mechanisms of fear and emotion in the brain.