Iron,an Important Component of the Steel Used in the Construction

question 61

Multiple Choice

Iron,an important component of the steel used in the construction of buildings,bridges,and railroads,combines with oxygen to form Fe₂O₃,which we recognize as rust.At room temperature,iron

• A)combines readily with atmospheric oxygen to form Fe₂O₃.
• B)requires the presence of a galvanizing agent and oxygen before it can rust.
• C)gains valence electrons from atmospheric oxygen,forming Fe₂O₃.
• D)requires the presence of hydrogen ions and oxygen before it can form Fe₂O₃.

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Definitions:

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized and recorded in financial statements.

Income Taxes

Taxes levied by the government on the income of individuals or corporations.

Adjusting Entries

Recordings at the period's end in accounting to accurately assign earnings and costs to the time they happened.

Costs Expire

The concept that certain costs represent the consumption of assets over time or through use and are thus recorded as expenses.