Properties whose physical substance consists of natural resources that are consumed in the operation of a business are called:
A)depreciable assets.
B)depletable assets.
C)amortizable assets.
D)intangible assets.

Question

Quizplus · Accepted Answer

Depletable assets are those assets whose physical substance consists of natural resources that are consumed in the operation of a business. Examples include oil reserves, timber forests, and mineral deposits. These assets are subject to depletion and their value decreases as they are consumed or extracted.

Properties Whose Physical Substance Consists of Natural Resources That Are