In calculating the depletion of a natural resource,its useful life in years is irrelevant.

Name: In calculating the depletion of a natural resource,its useful life in years is irrelevant.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The depletion of a natural resource is based on the quantity of the resource extracted, not the length of time it has been in use or its useful life. The useful life is more relevant in calculating depreciation of an asset, such as a machine or equipment, and does not apply to natural resources.

In Calculating the Depletion of a Natural Resource,its Useful Life