The periodic allocation of a natural resource's cost over the period of its extraction or harvesting is called amortization.

Name: The periodic allocation of a natural resource's cost over the period of its extraction or harvesting is called amortization.
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The periodic allocation of a natural resource's cost over the period of its extraction or harvesting is called depletion, not amortization. Amortization typically refers to the allocation of the cost of intangible assets.

The Periodic Allocation of a Natural Resource's Cost Over the Period