The Sequence of Eras Beginning with the Earliest Era and Proceeding

question 34

Multiple Choice

The sequence of eras beginning with the earliest era and proceeding forward to the most recent era in the geologic time scale is

• A)Archean - Mesozoic - Cenozoic.
• B)Cenozoic - Archean - Mesozoic.
• C)Archean - Paleozoic - ProterozoiC.
• D)Mesozoic - Cenozoic - Paleozoic.
• E)Paleozoic - Mesozoic - Cenozoic.

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Definitions:

Net Income

Net income, also known as net profit, is the amount of earnings that remain after deducting all costs and expenses from total revenue.

Gross Profit

Represents the difference between a company's revenue from sales and its cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.

Perpetual Inventory System

An approach in accounting where the transaction of buying or selling inventory is instantly documented through computerized point-of-sale systems and software for enterprise asset management.

Credit Memo

A document issued by a seller to a buyer, reducing the amount owed by the buyer under specified circumstances, like returns or discounts.