If XYZ Company Had $12 Million in Revenue and Net

question 32

Multiple Choice

If XYZ Company had $12 million in revenue and net income of $3 million,then its:

• A) expenses must have been $15 million.
• B) expenses must have been $9 million.
• C) assets must have been $12 million.
• D) assets must have been $3 million.

---

Definitions:

Rounded Clasts

Clasts or rock fragments that have been rounded by the mechanical weathering process, typically found in sedimentary rocks.

Sedimentary Deposit

Accumulation of minerals and organic particles that have been transported, settled, and compressed over time.

Breccia

A rock composed of broken fragments of minerals or rock cemented together by a fine-grained matrix.

Rock Characteristics

The inherent properties and features of rock, including texture, mineral content, and permeability among others.