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    Business
  3. Study Set
    Concepts in Federal Taxation
  4. Exam
    Exam 10: Cost Recovery on Property: Depreciation, Depletion, and Amortization
  5. Question
    To Compute Cost Depletion, You Must Know the Basis Subject
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To Compute Cost Depletion, You Must Know the Basis Subject

Question 23

Question 23

True/False

To compute cost depletion, you must know the basis subject to depletion, the recoverable quantity of the natural resource, and the quantity of the natural resource sold during the year.

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