Natural Resources Are First Recorded as ________,Then Recorded as ________

question 161

Multiple Choice

Natural resources are first recorded as ________,then recorded as ________ when extracted,and lastly recorded as ________ when sold.

• A)fixed assets;inventory;cost of goods sold
• B)goods available to sell;inventory;a loss
• C)inventory;revenue;cost of goods sold
• D)fixed assets;revenue;cost of goods sold

---

Definitions:

Market Potential

The maximum total sales volume that could be achieved by all competitors in a specified market over a given time period.

National Science Foundation

A United States government agency that supports fundamental research and education in all the non-medical fields of science and engineering.

Noncompetitive Proposal

A proposal with no real competition and hence a high probability of acceptance.

Competitive Proposal

A proposal that has to compete for limited resources.