Based on the Fossil Record, It Was Estimated That Coelacanths

question 6

Multiple Choice

Based on the fossil record, it was estimated that coelacanths had become extinct in the late Cretaceous, approximately 66 million years ago. However, a live coelacanth was discovered off the coast of South Africa in 1938. This is an example of

• A) forward smearing.
• B) the Signor-Lipps effect.
• C) radiocarbon dating.
• D) the law of superposition.

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Definitions:

Credit Balance

An accounting balance where the sum of credits exceeds the sum of debits in an account, often indicating money owed to the account holder.

Salaries Payable

A liability account that represents the amount owed to employees for work performed but not yet paid.

Reversing Entry

An accounting entry made at the beginning of an accounting period to negate the effects of certain adjusting entries made in the previous accounting period.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.