The Primary Source of Energy in Much of the Developing

question 6

Multiple Choice

The primary source of energy in much of the developing world is

• A)natural gas.
• B)coal.
• C)peat.
• D)biomass.

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Definitions:

Lower-Of-Cost-Or-Market Basis

An accounting principle where inventory is recorded at either its historical cost or market value, whichever is lower, to ensure conservatism.

Conservatism

An accounting principle that requires potential expenses and liabilities to be recognized immediately, but revenue only when it is ensured.

Accounting Concept

Fundamental principles or theories that underpin the practice and procedure of accounting.

Manufacturing Business

This type of business produces goods from raw materials through a combination of manual labor and machines.