ABC Is a Company That Commenced Business on 1 January

question 9

Multiple Choice

ABC is a company that commenced business on 1 January 2019. Below are the balances in the 30 June 2019 financial statements. What is the balance of assets?

• A) $8 000
• B) $10 000
• C) $16 000
• D) None of the above

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Definitions:

Shearing

The deformation of a material by slippage along parallel planes, often associated with faults and seismic activity in the Earth's crust.

Anticline

A type of fold in rock layers that forms an arch-like shape, with the oldest layers at the core.

Offset

The distance by which a geological feature, such as a fault or layer, is displaced due to tectonic movements.

Termination

The well-defined, commonly sharp end of a crystal.