A Compact Object with a Mass of 1

question 33

Multiple Choice

A compact object with a mass of 1.1 solar masses could ____.

• A) be a neutron star or a black hole
• B) be a neutron star, but not a black hole
• C) be a black hole, but not a neutron star
• D) not be a black hole or neutron star

Understand the components and computations related to asset cost, including the impact of depreciation and capital or revenue expenditures.

Comprehend the accounting treatment and classification for the purchase and expenditure on property, plant, and equipment.

Grasp the concept of asset disposal and the calculation of gain or loss associated with it.

Distinguish between ordinary repairs and capital expenditures and their respective accounting treatments.

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Definitions:

Contingent Liability

A potential financial obligation that may arise in the future, depending on the outcome of a specific event.

Estimable

Capable of being reasonably estimated or calculated, often used in the context of accounting to refer to expenses or losses.

Reasonably Possible

A term used in accounting and law to describe an outcome that, while not certain, is more than a mere possibility and should be considered or disclosed.

Merchandise Inventory

Goods that are purchased for the purpose of being sold to customers in the normal course of business.