Overestimating the Number of Tons of a Mineral That Can

question 164

Multiple Choice

Overestimating the number of tons of a mineral that can be mined over a mineral deposit's life will result in

• A)understated total assets each year.
• B)understated net income each year.
• C)understated depletion expense each year.
• D)no effect on total assets each year.

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