Which of the Following Is True

question 15

Multiple Choice

Which of the following is true?

• A) All fatty acids have an even number of carbons
• B) Most fatty acids have an odd number of carbons
• C) Fatty acids are equally likely to have an even number of carbons as they are an odd number
• D) Fatty acids with an odd number of carbons are more rare than those with an even number
• E) none of these

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Definitions:

Depreciation Expense

An accounting method of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.

GAAP

Stands for Generally Accepted Accounting Principles, which are a common set of accounting standards and procedures that companies must follow when they compile their financial statements.

Accounting Estimate

Approximations or judgments made by management when preparing financial statements, due to uncertainty in determining the exact amounts.

Multiple Periods

Refers to accounting or financial analysis over several time frames, such as quarters or years, to evaluate performance or investments.