Which Is Not a True Statement

question 14

Multiple Choice

Which is not a true statement?

• A) Ages are the longest increment of time on the geologic time scale
• B) Eras are subdivided into Periods
• C) Periods are subdivided into Epochs
• D) The geologic time scale was originally made on the basis of relative dating

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Definitions:

Commercial Substance

A consideration in accounting that a transaction has significantly changed the economic circumstances of the participants.

Gain or Loss

The difference between the sale price of an asset and its original purchase price, indicating the financial outcome of a transaction.

Service Potential

This refers to the capacity or ability of a service or asset to provide benefits or usefulness to an entity or its operations.

Land

An economic resource representing natural resources or ground, classified as a fixed asset in accounting, not subject to depreciation.