Which of the Following Is True of a 100-Year Flood

question 76

Multiple Choice

Which of the following is true of a 100-year flood?

• A)a 100-year flood occurs every 100 years on a given stream
• B)the probability of a 100-year flood occurring on any given year is 1:100
• C)a 100-year flood cannot occur twice within 10 years
• D)the probability of a 100-year flood is related to how recently the last 100-year flood occurred

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Definitions:

Accrual Basis

The accrual basis of accounting records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.

Cash Basis

An accounting method where revenues are recognized when cash is received, and expenses are recorded when cash is paid.

Debit Portion

The side of an accounting entry that increases asset or expense accounts or decreases liability, equity, or revenue accounts.

Asset Account

A category in accounting ledgers that records the increases and decreases in specific assets owned by a business.