Which One of the Following Statements Is True Concerning Assets

question 102

Multiple Choice

Which one of the following statements is true concerning assets?

• A)They are recorded at market value and then adjusted for inflation.
• B)They are recorded at market value for financial reporting purposes as historical cost may be arbitrary.
• C)Assets are used using the time-period approach.
• D)Accountants use the term historical cost to refer to the original cost of an asset.

---

Definitions:

Terminal Buttons

The small knobs at the end of an axon that release chemicals (neurotransmitters) to transmit signals to the next neuron.

Synaptic Cleft

The narrow gap between the terminal end of a neuron and the neighboring neuron or muscle cell, through which neurotransmitters are released to transmit signals.

Synaptic Vesicles

Membrane-bound sacs within neurons that store neurotransmitters and release them into the synaptic cleft during neuronal communication.

Neurotransmitters

Chemicals found within the brain that transmit messages between neurons, playing a crucial role in regulating bodily and mental functions.