Accounting
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Boundless Accounting
Controlling and Reporting of Real Assets: Property, Plant, Equipment, and Natural Resources
Depletion of Assets
Accounting Textbooks Boundless Accounting Controlling and Reporting of Real Assets: Property, Plant, Equipment, and Natural Resources Depletion of Assets
Accounting Textbooks Boundless Accounting Controlling and Reporting of Real Assets: Property, Plant, Equipment, and Natural Resources
Accounting Textbooks Boundless Accounting
Accounting Textbooks
Accounting
Concept Version 11
Created by Boundless

Resource Cost Write-Off

When natural resources have their value reduced to zero they are written off.

When natural resources have their value reduced to zero they are written off.

An asset write-off removes an asset's cost off the balance sheet and expenses it on the income statement.

Source

    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "Green River Natural Resources Area - observation tower 01."
    http://commons.wikimedia.org/wiki/File:Green_River_Natural_Resources_Area_-_observation_tower_01.jpg Wikimedia CC BY-SA.

Related Terms

  • contra asset account
  • impairment
  • journal entry
  • salvage value
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