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:

Net Income

The total amount of profit earned by a company after all expenses and taxes have been deducted from total revenue.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Accrued Expense

An accounting term for expenses that have been incurred but not yet paid, representing a company's obligation to make future payments.

Contra Account

An account in the general ledger that is used to reduce the value of a related account when the two are netted together.