A Technique for Extracting Gold That Has Been Outlawed in the United

question 66

Multiple Choice

A technique for extracting gold that has been outlawed in the United States is

• A)contour strip mining
• B)hydraulic mining
• C)mountaintop removal
• D)subsurface mining
• E)All of these mining methods are still legal for extracting gold in the United States.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value on the balance sheet.

Disposed

Refers to the act of selling, transferring, or getting rid of an asset or property owned by an individual or company.

Gain

The increase in value of an asset or decrease in liabilities resulting in an increase in owners' equity, except those relating to contributions from owners.

Fully Depreciated

The status of an asset whose entire cost has been expensed and has reached the end of its useful life according to accounting standards.