U.S. Oil Production ________________

question 3

Multiple Choice

U.S. oil production ________________.

• A) will peak out in 2100, requiring for the first time imports to meet growing demand
• B) is now high enough for us to export nearly 50%
• C) is sufficient to meet national needs thanks to major conservation efforts
• D) has to fit the quotas imposed by OPEC
• E) falls far short of U.S. oil consumption

Understand and apply accounting principles to prior period adjustments and their impact on financial statements.

Assess the relationship between dividend policies, legal requirements, and financial statement presentation.

Understand the accounting and disclosure requirements for property dividends, including fair value measurements.

Understand the concept of stock dividends and stock splits and their impact on shares outstanding.