Read the Following Scenario and Answer the Question(s) Below

question 19

Multiple Choice

Read the following scenario and answer the question(s) below.
Wetlands provide a multitude of ecological, economic, and social benefits. They provide habitat for many organisms and are nurseries for many saltwater and freshwater fishes and shellfish. Wetlands also hold and slowly release floodwater and snow melt, recharge groundwater, act as cleansing filters, recycle nutrients, and provide recreation. As of 2000, the contiguous United States was estimated to have about 105 million acres of wetlands remaining. Over the past 60 years, it has lost over 16 million acres of wetlands, and the loss continues at about 58,000 acres annually. Nearly one -third of the loss is due to urban development, with the rest being nearly equally divided between rural development, agriculture, and silviculture (predominantly logging) . The southeastern United States is experiencing the greatest losses. The Emergency Wetlands Resources Act of 1986 requires the Fish and Wildlife Service to conduct status and trend studies of the nationʹs wetlands and to report the results to Congress each decade. The overall goal is to have no more net loss of wetlands. In the past 5 years, money for flood control projects in Louisiana has been cut dramatically. During that time, two simulations, one of a category 4 hurricane and one of a category 5 hurricane, indicated catastrophic damage and loss of life along the Gulf Coast. The levees were predicted to break, and massive flooding to occur, in part due to the loss of the sheltering wetlands.
-There has been legislation designed to encourage protection of wetlands, but funding has been greatly reduced, because _______________.

• A) a system of green taxes is already in place to fund the needed work
• B) wetlands have little or no economic value
• C) the ecosystem services of wetlands has been ignored
• D) there has been no funding available for any federal projects
• E) green taxes have been opposed by state governments

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Definitions:

Prepaid Rent

An advance payment for rent that is recorded as an asset and then expensed over the period the payment covers.

Office Supplies

Items used in offices on a daily basis for functioning and managing tasks, including pens, paper, and office equipment.

Accounts Payable

The amount of money owed by a company to its creditors for goods and services purchased on credit.

General Ledger

A comprehensive set of accounts that provides a complete record of all financial transactions of a business, used to prepare financial statements.