Which of the Following Is (Are) True

question 150

Multiple Choice

Which of the following is (are) true?

• A) A renewable natural resource is one that can't be used without reducing the stock of the resource for subsequent use.
• B) An exhaustible natural resource is often managed in a manner that makes some of it available for future use.
• C) Oil and coal are renewable natural resources.
• D) All of the above are true

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Definitions:

Bonus Method

An accounting method for handling goodwill or the excess amount paid over the book value in a transaction, often used in partnership accounts.

Partnership

A business structure in which two or more individuals manage and operate a business according to the terms and objectives set out in a Partners' Agreement.

Profit and Loss

A financial statement summarizing the revenues, costs, and expenses incurred during a specific period, typically a fiscal quarter or year.