A Great Circle Is

question 85

Multiple Choice

A great circle is

• A) any parallel of latitude.
• B) the shortest distance between two places on the surface of Earth.
• C) a circle of circumference whose center coincides with the center of Earth.
• D) a correct magnetic compass direction on a flat map.

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Definitions:

Fair Value

The compensation received for an asset's sale or the expenditure for a liability's reassignment in an organized engagement with market participants on the valuation date.

IFRS

International Financial Reporting Standards, which are a set of accounting rules used globally to prepare financial statements.

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.