Question

Depletion method of charging depreciation is adopted for which of the following assets? (a) Plant and machinery (b) Wasting assets like mines and quarries (c) Buildings (d) Trademarks

Answer 1

(b) wasting assets like mines and quarries.

Answer 2

Wasting assets like mines and quarries

Wasting assets are those assets which have a life for a restrained period and consequently depreciate in value over time. A depleted asset is oftentimes utilized until they are completed disappeared. A wasting asset is also attributed to as a utilized asset. Some instances of dissipating assets are natural gas, oil, mines, quarries, and coal.