Which of the Following Is True of Oil

question 57

Multiple Choice

Which of the following is true of oil?

• A) Oil was not produced in the United States until the middle of the twentieth century
• B) Oil was a minor resource until the diffusion of motor vehicles early in the 1900s
• C) Oil was discovered by Baron von Drusenberg of Austria in the later eighteenth century
• D) Libya has the world's largest proven oil deposits
• E) The United States imports about 5 percent of the total annual oil it consumes

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Definitions:

Business Days

Days of the week excluding weekends and public holidays, typically Monday through Friday, when business operations are conducted.

Fixed Charge Coverage

A financial metric evaluating how well a company can pay off its fixed expenses, like interest and leases, using its earnings before interest, taxes, depreciation, and amortization (EBITDA).

Times Interest Earned Ratio

A measure of a company's ability to meet its interest obligations, calculated as earnings before interest and taxes divided by interest expense.

Financing Activities

Transactions and events that affect the long-term liabilities and equity of a company, including issuing or repurchasing equity and debt.