What Is the Most Compelling Piece of Evidence That Suggests

question 7

Multiple Choice

What is the most compelling piece of evidence that suggests that the dinosaurs were made extinct by the impact of an asteroid 65 million years ago?

• A) a layer of sediment laid down at that time which is littered with dinosaur fossils
• B) dinosaur fossils are found in rock layers older than 65 million years but not younger than 65 million years
• C) a layer of sediment laid down at that time which is rich in the element Iridium (Ir), an element common in asteroids but less common on the Earth
• D) the crater from this impact can still be seen in the deserts of Arizona

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Definitions:

Average cost

The total cost of goods divided by the number of goods, used in inventory valuation and determining profit margins.

Periodic inventory system

A periodic inventory system is a method of inventory valuation where the inventory is updated and cost of goods sold is calculated at the end of a specific accounting period.

Ending inventory

The total value of all the goods still available for sale at the end of an accounting period.

Gross profit

The financial metric indicating the difference between revenue and the cost of goods sold, reflecting the core profitability of product sales.