What Is the Global Positioning System (GPS)

question 77

Multiple Choice

What is the global positioning system (GPS) ?

• A)a system for determining positions on the Earth by careful observations of the Sun and stars
• B)a system of determining positions on the Earth by receiving radio signals from many ground-based beacons
• C)a system for determining positions on Earth using signals from a set of satellites in Earth orbit
• D)a term used to refer to any type of celestial navigation

---

Definitions:

Fair Value

Fair value is the estimated price at which an asset could be bought or sold in a current transaction between willing parties, apart from in a liquidation sale.

Depreciable Assets

assets that lose value over time due to wear and tear, deterioration, or obsolescence, which businesses can write off as an expense over the asset's useful life.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Fair Value

The estimated market value of an asset or liability, based on current prices in an active market.