1). Intangible drilling costs are costs associated with drilling an oil and gas well to the point of completion. An Integrated Oil and Gas company is allowed to deduct these costs in what manner?

a. Cost Depletion

b. 100% Expensed

c. 70% Expensed and 30% Capitalized & Amortized

d. 100% Amortized

2). When a company spends money to acquire a mine the check is known as a mineral rights acquisition cost. This check forms the basis for which deduction?

a). Cost Depletion

b). Percent Depletion

c). Limit Depletion

3). Mining companies who qualify for depletion must look at the ["smaller", "larger"] deduction between percent and limit depletion, and the ["larger", "smaller"] deduction between the previous answer and cost depletion to decide which deduction to take. This process will be recalculated each year. (Please answer either smaller or larger as your answer)