The Approximate Percentage of the Earth's Surface That Is Covered

question 87

Multiple Choice

The approximate percentage of the Earth's surface that is covered by water is about:

• A) 10%.
• B) 30%.
• C) 50%.
• D) 70%.
• E) 100%.

---

Definitions:

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.

Double-Declining-Balance Depreciation

A method of accelerated depreciation where the asset's book value is reduced at double the rate of traditional straight-line depreciation.

Straight-Line Depreciation

A method of allocating an asset's cost evenly across its useful life.