Question
Which is not true related to the cost recovery depreciation deduction for natural resources like oil? A. Cost depletion based on the number of units
Which is not true related to the cost recovery depreciation deduction for natural resources like oil?
A. Cost depletion based on the number of units can be claimed.
B. Percentage depletion at 15 % of gross revenue can be claimed.
C. The deduction is called depletion.
D. The method is MACRS.
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Financial Accounting
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
9th Edition
032418803X, 978-0324188035
