A Mesa Is Most Likely to Form If the Underlying

question 57

Multiple Choice

A mesa is most likely to form if the underlying bedrock is

• A) folded sedimentary rock.
• B) fault-tilted sedimentary rock.
• C) flat-lying sedimentary rock.
• D) igneous rock.

---

Definitions:

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Like-Kind Exchange

A tax deferral for the exchange of business or investment properties that are of the same nature or character, without cash being involved.

Gain Recognition

The process by which gains from the sale or exchange of assets are reported for tax purposes.

Involuntary Conversion

The forced exchange of an asset for compensation, such as through eminent domain or destruction, where the proceeds may qualify for special tax treatment.