Mines quarries oilfields and forest are example of ………….

To charge the cost of fixed assets against profits

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To show the current market value of fixed asset

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To make cash available to replace fixed assets

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To make a provision for repairs

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Solution

The correct option is A
To charge the cost of fixed assets against profits

Mines quarries oilfields and forest are example of Wasting Assets.

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Similar questions

If book value of a fixed asset equals to market value or sale proceeds of a fixed asset then :

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