Conceptually the cost allocation procedures for natural resources parallels that of plant assets.

Name: Conceptually the cost allocation procedures for natural resources parallels that of plant assets.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

Both natural resources and plant assets are long-term assets that are expected to provide benefits over multiple accounting periods. Therefore, the cost allocation procedures such as depreciation, depletion, or amortization will be similar for both types of assets.

Conceptually the Cost Allocation Procedures for Natural Resources Parallels That