Which of the Following Is NOT an Example of a Mineral

question 20

Multiple Choice

Which of the following is NOT an example of a mineral resource being used in a consumptive manner?

• A) aluminum for making cans
• B) phosphorites for making fertilizer
• C) limestone to make concrete
• D) graphite to make pencils
• E) diamond tipped cutting tools

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, also known as net earnings or net profit.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the owners' share.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business, whichever is longer.

Average Cost Flow

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all inventory items available for sale.