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Question 1
3 / 3 pts
(TCO 6) Which of the following is a natural resource?
Patents
Timber
Gas reserves
both B and C
Question 2
3 / 3 pts
(TCO 6) Depreciation expense
allocates a portion of the cost of an asset against the revenue the asset helps earn each period.
is not required for plant assets according to GAAP.
is reported on the balance sheet.