Which of the Following Is Not True of Faults

question 33

Multiple Choice

Which of the following is not true of faults?

• A)They are the locations of most earthquakes.
• B)They are cracks through which magma erupts.
• C)They can control the flow of fossil fuels.
• D)They can control the flow of groundwater.

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Definitions:

Estimated Liabilities

Liabilities that are anticipated but not yet confirmed or quantified, often used in accounting for future expenses.

Estimated Bonuses

Anticipated bonus payments to employees based on performance criteria that have not yet been paid out.

Bonus Payable

A liability account on the balance sheet that represents the amount of bonuses a company owes to its employees but has not yet paid.

Warranty Expense

refers to the cost that a company expects to incur to repair, replace, or compensate for goods or services that are under warranty, recognized as a liability and expense in the financial statements.