Which is NOT a natural resource? OOil O Patent O Timber O Gas QUESTION 4 What method do we use to deduct the expense of an intangible asset? Depreciation Depletion O Units of Production O Amortization What words can be used to describe the Allowance for Doubtful Accounts? O Contra account and credit account O None of the above O Conta asset account with a normal debit balance O Asset Account with a normal debit balance QUESTION 6 Which is NOT an intangible asset? O Patent O Goodwill Land O Frandchise I spent $100,000 on a new machine. it cost $2000 to ship it to my office, $1000 to install it, and $500 for initital testing. What is the total cost of the asset? $103,500 O $100,000 $101,000 O $103,000 QUESTION 8 What type of account is petty cash and what is its normal balance? O expense, debit expense, credit O asset, debit revenue, credit