Which of the Following Statements Is (Are) True

question 101

Multiple Choice

Which of the following statements is (are) true?
(1) An asset is a cost that will be matched with revenues in a future accounting period.
(2) Opportunity costs are recorded as intangible assets in the current accounting period.

• A) Only (1) is true.
• B) Only (2) is true.
• C) Both of these are true.
• D) None of these are true.

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Definitions:

Cumulative

Increasing or grown by accumulation or successive additions.

Differential

Relating to or involving a difference; typically referring to circuits or components that measure or react to the difference between two quantities.

Mechanical Energy

The sum of potential energy and kinetic energy present in the components of a mechanical system.

Electrical Energy

The form of energy resulting from the flow of electric charge, transferred through conductive materials or space, and capable of being converted into other forms of energy like heat or light.