The Massive Mining Company Operated Several Mines in Close Proximity

question 7

Multiple Choice

The Massive Mining Company operated several mines in close proximity and wished to link three of its mines with a pipeline conveyor to transport ore from one site to another.The proposed conveyor would have to cross a creek that,in the spring,is used by local residents for canoeing.Before Massive Mining Company can construct its conveyor

• A)It must determine whether the Navigable Waters Protection Act applies to the proposed project.
• B)It must show it has used due diligence in order to obtain a licence for the conveyor.
• C)It may have to perform an environmental audit to evaluate any harmful effects the conveyor may have on the environment.
• D)It may be required to undergo an environmental assessment.
• E)a and d.

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that may not be collected.

Percentage of Receivables

A method for estimating the allowance for doubtful accounts based on the expected percentage of accounts receivable that may not be collectible.

Write Offs

Financial accounting action where the value of an asset is declared worthless, removing it from balance sheet accounts due to loss or impairment.