A Congenital Defect Is a Condition That

question 119

Multiple Choice

A congenital defect is a condition that:

• A) requires no medical attention.
• B) exists at birth.
• C) has no apparent cause.
• D) occurs in one-third of all pregnancies.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, representing the cumulative wear and tear or obsolescence of the asset.

Contra

Contra refers to an account that is used to reduce another account on the financial statements to its net value.

Plant Asset

Long-term tangible assets used in the operation of a business and not intended for resale, such as machinery, buildings, and vehicles.

Loss

The negative result when expenses exceed revenues during a specific period.