What Occurs at Mid-Ocean Ridges

question 141

Multiple Choice

What occurs at mid-ocean ridges?

• A) oceanic crust is destroyed
• B) continental crust is destroyed
• C) oceanic crust is created
• D) continental crust is created
• E) all crust is destroyed by magma

---

Definitions:

Accrual-Basis Accounting

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed, recognized as a liability until the obligation is fulfilled.

Unearned Rent

is income received by a landlord for rent that has been paid in advance by a tenant but has not yet been earned.

Adjust Revenue

The act of modifying the reported amount of revenue to more accurately reflect the earnings of a period, following certain accounting principles and standards.