Unconventional sources of petroleum such as oil sands and shale are often grouped together and referred to as:
A. peak sources.
B. new sources.
C. nonrenewable hopes.
D. heavy oil.
Answer: D
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Unusual items affecting the current period's income statement consist of changes in accounting principles and discontinued operations
a. True b. False Indicate whether the statement is true or false
Which of the following is not a potential pitfall of a differentiation strategy?
A. Highly valued uniqueness B. Perceptions of differentiation may vary between buyers and sellers C. Too high a premium price D. It is easily imitated
Which of the following depreciation methods most closely approximates the method used to deplete the cost of natural resources?
a. Straight-line method b. Double-declining-balance method c. Sum-of-the-years'-digits method d. Units-of-production method
Expenses provide future benefits, and assets measure the consumption of those benefits
Indicate whether the statement is true or false