Which of the Following Statements Is Not True

question 7

Multiple Choice

Which of the following statements is not true?

• A)Objects in the asteroid belt are made mostly of rock and metal.
• B)Objects in the Kuiper belt are made mostly of rock and metal.
• C)Objects in the asteroid belt and Kuiper belt orbit the Sun in nearly the same plane as the planets, but objects in the Oort cloud do not.
• D)Objects in the Oort cloud contain large proportions of ice.

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Definitions:

Book Value

An accounting term denoting the portion of the company held by the shareholders at accounting value, not market value.

Fair Value

A financial standard used to determine the fair market price of an asset or liability for transactional or reporting purposes based on current market conditions.

Initial Value Method

A method of accounting for investments, where the investment is recorded at its original cost without recognizing subsequent changes in fair value.

Equipment Account

An account on the balance sheet representing the cost of equipment owned by a company, less any accumulated depreciation.