Pipelines Are Used Primarily to Transport

question 201

Multiple Choice

Pipelines are used primarily to transport

• A) coal slurry.
• B) hazardous wastes.
• C) ammonia and acids.
• D) water, petroleum, and petroleum products.

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Definitions:

Materiality Principle

An accounting principle that states financial reports should include all items significant enough to influence the decision-making process of an individual reading the report.

Charging to Expense

The process of recognizing a cost as an expense in the income statement during the period in which it is incurred.

Historical Cost Principle

An accounting principle requiring all financial items to be recorded based upon original cost, without adjusting for inflation or market value.

Primary Quality

Fundamental or inherent characteristics that determine the value or usefulness of something.