Explain how, at a glance, it appears that life must violate the laws of thermodynamics. Provide a brief explanation on how life does NOT violate these rules.
What will be an ideal response?
The first law of thermodynamics is at work in living organisms. It is obvious that energy is acquired in many different forms and then transformed to other forms. Chemical energy is acquired as food and transformed to mechanical energy, other forms of chemical energy, and heat energy. Plants, some bacteria, and algae acquire light energy and transform it into chemical energy. When life ends and organisms decay, it may seem that energy is destroyed, when in fact microorganisms are transforming it to other forms of energy. It may seem that the second law of thermodynamics, and increasing entropy, is not the rule in life forms. Even though metabolic and homeostatic controls keep life orderly, there is a constant increase in entropy as every chemical reaction proceeds. To offset the dissipation of energy, there must be a constant input of energy to maintain a living system.
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Which one of the following statements is false regarding a review?
a. A review involves assessing fraud risk. b. A review does not involve obtaining an understanding of the entity's internal control. c. A review does not involve testing accounting records by obtaining sufficient appropriate evidence through inspection, observation, confirmation, or examining source documents. d. A review does not involve a practitioner obtaining assurance that he or she will become aware of all significant matters that would be investigated in an audit.
When an old bond's market value is above its par value, the bond is selling at a ________. This occurs because the old bond's coupon rate is ________ the coupon rates of new bonds with similar risk
A) premium; below B) premium; above C) discount; below D) discount; above
You want to explore the relationship between the grades students receive on their first two exams. For a sample of 15 students, you find a correlation coefficient of 0.47. What is the value of the test statistic for testing H0 : p = 0 vs. H1 : p > 0?
A) 2.80 B) 1.06 C) 1.39 D) 1.92
Projects S and L, whose cash flows are shown below, are mutually exclusive, equally risky, and not repeatable. Hooper Inc. is considering which of these two projects to undertake. If the decision is made by choosing the project with the higher IRR, how much value will be forgone? Note that under certain conditions choosing projects on the basis of the IRR will not cause any value to be lost because the project with the higher IRR will also have the higher NPV, so no value will be lost if the IRR method is used. r: 10.25% Year0 1 2 3 4 CFS ?$2,050 $750 $760 $770 $780 CFL ?$4,300 $1,500 $1,518 $1,536 $1,554
A. $134.79 B. $141.89 C. $149.36 D. $164.29 E. $205.36