If Proved Reserves of a Mineral Amount to Twelve Years

question 186

Multiple Choice

If proved reserves of a mineral amount to twelve years of use at the current rate of consumption,

• A) it is likely, though not certain, that we will run out of that mineral in about twelve years.
• B) we are likely to run out of the mineral in less than twelve years if our rate of use has been increasing.
• C) if the good becomes more scarce relative to supply in the future, its price will rise and thereby encourage both conservation and exploration.
• D) if proved reserves diminish, lower prices will extend the day of exhaustion well into the future.

Understand the use and benefits of strategic partnerships in channel distribution, particularly in global markets.

Recognize specific industry practices related to distribution and marketing channel strategies such as in pharmaceuticals.

Understand the various types of distribution channels and their characteristics.

Recognize the strategic importance of multichannel marketing strategies.

---

Definitions:

Accrued Expense

Expenses that have been incurred but not yet paid or recorded in the financial statements.

Accrued Revenue

Income that has been earned through sales or services but has not yet been received or recorded.

Tenant

An individual or entity that occupies property or land rented from a landlord under a lease agreement.

Rent

The payment made by a tenant to a landlord for the use of property, land, or a building.