The Ottawa and St

question 45

Multiple Choice

The Ottawa and St.Lawrence River valleys have extensive deposits of quick clay which when triggered by ____________ can become unstable and flow like a liquid.

• A) earthquake
• B) excessive amounts of water
• C) vibrations from construction equipment
• D) all of these are correct

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Definitions:

Uncollectible Accounts

Accounts receivable that a company does not expect to collect and thus writes off as a loss.

Accounting Convention

Accepted accounting principles that guide the reporting and financial presentation of a company's accounts.

Qualitative Characteristics

Attributes that enhance the usefulness of financial information, including understandability, relevance, reliability, and comparability.

GAAP Constraints

Limitations or guidelines in Generally Accepted Accounting Principles that direct the application of accounting procedures.