The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called
A)deferral
B)depreciation
C)amortization
D)depletion

Question

Quizplus · Accepted Answer

The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called depletion. Depletion is a method of depreciating natural resources by charging the cost of taking them out of the ground as an expense. This method is used for assets such as timber, minerals, and oil reserves that have a finite usable life.

The Process of Transferring the Cost of Metal Ores and Other