Which Transition Is Characteristic of the Industrial-Medical Revolution

question 70

Multiple Choice

Which transition is characteristic of the industrial-medical revolution? 

• A) a move from reliance on non-renewable energy resources to reliance on potentially renewable energy resources 
• B) a move from farming employment to factory employment 
• C) a move from large-scale production to small-scale production 
• D) a move from higher crop productivity to lower crop productivity

---

Definitions:

Fair Value

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

IAS 16

International Accounting Standard 16, prescribing the accounting treatment for property, plant, and equipment including the recognition of assets, determination of their carrying amounts, and the depreciation charges and impairment losses to be recognized.

Heifers

Young female cows that have not borne a calf, often raised for beef production or future breeding.

Biological Asset

Living plants or animals that are held by an entity for purposes such as sale, into agricultural produce, or into additional biological assets, which are expected to provide economic benefits to the entity.