Examlex

Solved

Refer to the Following Information to Answer the Questions Below

question 65

Multiple Choice

Refer to the following information to answer the questions below.
Fossils of Lystrosaurus, a dicynodont therapsid, are most common in parts of modern-day South America, South Africa, Madagascar, India, South Australia, and Antarctica. It apparently lived in arid regions, and was mostly herbivorous. It originated during the mid-Permian period, survived the Permian extinction, and dwindled by the late Triassic, though there is evidence of a relict population in Australia during the Cretaceous. The dicynodonts had two large tusks, extending down from their upper jaws; the tusks were not used for food gathering, and in some species were limited to males. Food was gathered using an otherwise toothless beak. Judging from the fossil record, these pig-sized organisms were the most common mammal-like reptiles of the Permian.
-Which of these is the most likely explanation for the existence of dicynodont fossils on modern-day Antarctica?


Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was put into use, representing how much of its value has been used up.

Allowance

A provision in accounting for a reduction in the value of receivables or inventories, often related to potential bad debts or damaged goods.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Classified Balance Sheet

A balance sheet that contains standard classifications or sections.

Related Questions