Which of the Following Statements About Limestone Is NOT True

question 13

Multiple Choice

Which of the following statements about limestone is NOT true?

• A) Calcium bicarbonate is produced as a result of the dissolution of limestone by carbonic acid.
• B) The most soluble component of limestone is the mineral calcite.
• C) Limestone dissolves most readily in pure water.
• D) Limestone may contain as little as 50% calcite.

---

Definitions:

Variable Costing

A system in accounting that considers solely the changing costs associated with production (direct materials, direct labor, and variable manufacturing overhead) in the calculation of product prices.

Net Operating Income

Net Operating Income, often abbreviated as NOI, is a financial metric that calculates a company’s profit after subtracting operating expenses excluding taxes and interest.

Absorption Costing

Absorption costing is an accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.

Absorption Costing

An accounting method that includes all manufacturing costs (both variable and fixed) in the cost of a product.