A Business Will Have Depletion Expense Only If It Has

question 112

Multiple Choice

A business will have depletion expense only if it has ________.

• A)current assets that are consumed during the period
• B)property,plant,and equipment that are used in operating activities
• C)natural resources like timber and oil
• D)intangible assets like copyrights and trademarks

---

Definitions:

Emotionally Desirable

Attributes or situations that are appealing or sought after due to the positive emotions they elicit.

Discounting Principle

A concept in social psychology that suggests when there are multiple possible causes for a behavior, less significance is given to any single cause.

Correspondent Inference

An inference about a person's disposition or character based on observed behavior, especially when the behavior is freely chosen.

Consensus Effect

The tendency for people to overestimate the extent to which others share their views, beliefs, and experiences.