Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ________________ which ever is smaller ?
A. Fixed percentage of gross income or 50% of the net taxable income

B. 50% of the fixed percentage of gross income or the net taxable income

C. 50% of the fixed percentage of gross income or 50% of the net taxable income

D. Fixed percentage of gross income or the net taxable income

Be the first to comment if anything wrong with this mcq
Your comment successfully submitted!
It will automatically posted after review and approval by our staff member.