Engineering Economics
Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.

50% of the fixed percentage of gross income or 50% of the net taxable income
Fixed percentage of gross income or 50% of the net taxable income
Fixed percentage of gross income or the net taxable income
50% of the fixed percentage of gross income or the net taxable income

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Engineering Economics
Which is true about partnership?

It will be dissolved if one of the partners ceases to be connected with the partnership.
It has a perpetual life.
Its capitalization must be equal for each partner.
It can be handed down from one generation of partners to another.

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