- When Selling Fixed assets how do you calculate the Book Value? Once you have book value if you sell the asset for more cash than book value what is it called? Less than book value what is it called?

- What is the method used to record the consumption of natural resources. To what depreciation method is it similar?

- Define intangible assets. Give four (4) examples and the method used to record the consumption expense.

- Which Fixed asset class does not depreciate/deplete/or amortize?