Natural resources are generally shown on the statement of financial position under

Question

Quizplus · Accepted Answer

Natural resources such as land, mineral deposits, and timberlands are usually classified as property, plant, and equipment assets on the statement of financial position. These assets are tangible and have physical substance, unlike intangible assets. Therefore, they are not classified under intangibles or investments. Similarly, they do not affect equity directly.

Natural Resources Are Generally Shown on the Statement of Financial