Asked by
Jonah Autida
on Oct 28, 2024
Verified
Tangible assets that are attached to natural resources are depreciated over
A) the life of the natural resource
B) the shorter of the tangible asset's life or the natural resource's life
C) the life of the tangible asset
D) the longer of the tangible asset's life or the natural resource's life
Tangible Assets
Physical and material assets, such as buildings, machinery, and equipment, which are owned by a business and can be seen and touched.
Natural Resource
Assets that occur naturally in environments such as minerals, timber, and oil, often subject to depletion and depreciation over time.
- Assess depreciation charges through various formulas, including straight-line, double-declining balance, sum-of-the-years'-digits, and activity method.
Verified Answer
BM
Learning Objectives
- Assess depreciation charges through various formulas, including straight-line, double-declining balance, sum-of-the-years'-digits, and activity method.