The conservatism principle involves “recognizing expenses and liabilities as soon as possible when there is uncertainty about the outcome, but to only recognize revenues and assets when they are assured of being received” (The conservatism principle). Requirement 2 – B Hudson’s wholesale inventories should be reported on the balance sheet at the replacement cost amount. The text indicates that the replacement cost is less than the NRV (or ceiling) and more than the NRV-NP (or floor) making the
The salts will be dissolved in distilled water by small quantities until the reaction reaches When ionic compounds dissolve in water, they either absorb energy from or release energy to the surroundings. If a chemical reaction absorbs heat from the surroundings, it is an endothermic reaction. If a solution releases heat to its surroundings, it is an exothermic reaction. The enthalpy of dissolution is the enthalpy change associated with the dissolution of a substance in a solvent at a constant pressure. The change in enthalpy relies on the concentration of the salt solution, because different concentrations will produce different enthalpies.
2. Explain what relationship exists between the pressure and volume of a gas (assuming a constant temperature), based on your collected data. Answer: The relationship between Pressure and Volume is inversely proportional. As one decrease, the other increases. P1V1=P2V2 3.
The solid then is the insoluble compound, called a precipitate. Our objectives are to predict the amount of product produced in a precipitation reaction using stoichiometry. Also, we are to accurately measure the reactants and products of the
In this case, dry river sand was used. The shear strength is directly related to the angle of internal friction. From plotting shear stress versus horizontal displacement for different vertical confining stresses, the maximum shear stress for each can be obtained. After several trials, a plot of maximum shear stress versus vertical (normal) confining stress is produced. A straight line approximation for the Mohr-Coulomb failure envelope can then be drawn.
The equipartition theorem says that each term in the total energy expression with either a squared momentum or coordinate contributes the same amount, (1/2)RT to the energy as well as the heat capacity. [1] Heat capacity ratio is a quantity that appears frequently. It is the ratio of CP to CV, which is defined by ϒ. This value for gas reflects different characteristics of a gas. It can also be known if Cp or Cv are also known.
The higher the price of a good the more supply of the good will be placed into the market. Conversely, as the price falls, the less of a supply of the good will be placed into market. Determinants of Supply Supply is determined by the cost of the resources needed to produce the good, technologies used in production, any taxes or subsidies that the producer receives, the cost of goods that are comparable or not, the outlook of the producers, and how many sellers are in the market. As these determinants change there will be a corresponding change within the supply side of the
As the time horizon increases, variable costs rely less on existing factors and restrictions and therefore will begin behaving differently which will in turn affect the cost of production (Wright, 2007). The second way a firm that’s into profit maximization can decide its greatest level of output is by way of the marginal revenue -- marginal cost method. This is done by subtracting the marginal cost from the marginal revenue that a product generates. Using marginal cost and marginal revenue as the bases, profit maximization will be obtained at the point when marginal revenue is equal to marginal cost. If the marginal revenue is greater than marginal cost this would be when a profit maximizing firm would need to increase production until marginal revenue is equal to marginal cost.
Which of the following is not considered an advantage of LIFO when prices are rising? a. The inventory will be overstated. b. The more recent costs are matched against current revenues.
Boyle scientifically varied the pressure and measured the volume of the gas. These measurements were performed using a fixed amount of gas and a constant temperature. In this way Boyle was able to examine the pressure-volume relationship without complications from other factors such as changes in temperature or amount of gas. Boyle’s law states that at constant temperature for a fixed mass, the absolute pressure and the volume of a gas are contrarily proportional. The law can also be stated in a slightly different manner, that the product of absolute pressure and volume is always constant.