Which of the following is not a similarity in the accounting treatment for depreciation and cost of depletion?
a. the estimated life is based on economic or productive life
b. assets subject to either are reported in the same classification on the balance sheet
c. the rates may be changed upon revision of the estimated productive life used in the original rate computations
d. both depreciation and depletion are based on time
Ans: d. both depreciation and depletion are based on time
Business
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