Nonrenewable Resources Are Used Much More Prevalently Today Despite Knowing

question 38

Multiple Choice

Nonrenewable resources are used much more prevalently today despite knowing that they pollute and will run out in the future.Why then are we NOT using more renewable resources?

• A)Nonrenewables are not cost-effective to use.
• B)Nonrenewables are complicated to use.
• C)Nonrenewable use depends on location.
• D)Nonrenewables have their own drawbacks.

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Definitions:

LIFO Method

"Last In, First Out" inventory valuation method where the most recent items added to inventory are the first ones considered sold.

Periodic System

A method in accounting where inventory levels are updated in the financial records periodically at the end of a reporting period.

Cost of Goods Sold

The expenses incurred directly from the production of a company's sold products, comprising materials and labor.

Net Income

The income left over after deducting all costs, taxes, and expenses from the total revenue.