Projects That, If Accepted Preclude the Acceptance of All Other

question 53

Multiple Choice

Projects that, if accepted preclude the acceptance of all other competing projects are called:

• A)Mutually exclusive projects
• B)Independent projects
• C)Dependent projects
• D)Both b and c

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Definitions:

Normal Balance

The side (debit or credit) on which increases are recorded in an account, based on the type of account.

Financial Statement

Reports that present the financial performance, position, and cash flows of a business for a specified period.

Permanent/Temporary

Terms used to distinguish between accounts or items that either persist over multiple accounting periods (permanent) or exist for only one period (temporary).

Normal Balance

The side (debit or credit) of an account that is typically increased in accounting.