Which of the Following Is an Example of an Idea

question 51

Multiple Choice

Which of the following is an example of an idea?

• A) new irrigation techniques
• B) turning sand into computer chips
• C) the assembly line
• D) the steam engine
• E) All of these answers are correct.

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Definitions:

Unit of Accountability

A fundamental concept in accounting and finance, referring to the smallest measurable amount for which financial activities or transactions are recorded and reported.

Insurance Expense

The cost incurred by a business to insure its assets, operations, or liabilities over a certain period.

Asset Account

An account on a company's balance sheet that represents a resource with economic value that is controlled or owned.

Going Concern Assumption

The assumption that the company will continue in operation for the foreseeable future.