A Company's Manager of Finance and Administration Is Sorting Assets

question 15

Multiple Choice

A company's manager of finance and administration is sorting assets to create a category of those that will be consumed or used up within one year.Which of the following will be part of this category?

• A) land
• B) inventories
• C) equipment
• D) buildings

---

Definitions:

Third Party

In the context of transactions, a third party is an entity besides the two primary parties involved, often providing an additional service or playing a regulatory role.

More Pay

Refers to an increase in the amount of money an employee receives for their work, either through raises, bonuses, or overtime compensation.

Communist Country

A nation that operates under a system of government where the state plans and controls the economy and a single—often authoritarian—party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.

Export Surplus

A situation where a country exports more goods and services than it imports.