The First Transcontinental Railroad Was Completed by the Construction Efforts

question 24

Multiple Choice

The first transcontinental railroad was completed by the construction efforts of which of the following railroads?

• A) Union Pacific
• B) Northern Pacific
• C) Central Pacific
• D) Southern Pacific
• E) Atchison, Topeka, and Santa Fe

---

Definitions:

Revaluation Method

An accounting strategy used to adjust the book value of a fixed asset to reflect its current market value.

IFRS

International Financial Reporting Standards, a set of global accounting guidelines developed by the International Accounting Standards Board, providing uniform financial statement reporting.

Tangible Long-Lived Assets

Physical assets that are used in the operations of a business, have a useful life of more than one year, and are not intended for resale.

Nonmonetary Exchange

Transactions in which businesses or individuals trade goods or services without the use of money or monetary units.