If a Natural Resource Is Extracted and Then Immediately Sold,which

question 63

Multiple Choice

If a natural resource is extracted and then immediately sold,which of the following accounts are debited and credited?

• A)debit Cost of Goods Sold and credit Inventory
• B)debit Natural Resource and credit Accumulated Depletion
• C)debit Depletion Expense and credit Accumulated Depletion
• D)debit Depreciation Expense and credit Accumulated Depreciation

---

Definitions:

Environment

The sum of all external conditions and influences affecting the life and development of organisms.

Sun Energy

The radiant energy emitted by the Sun, which is harnessed by plants for photosynthesis and influences Earth's climate and weather.

Decomposers

Organisms that break down dead or decaying organisms, contributing to nutrient recycling in ecosystems.

Producers

Organisms, typically plants or algae, that produce organic compounds from simple substances such as carbon dioxide, serving as a base for all food chains.