Which of these statements is NOT a consequence of the second law of thermodynamics?
A. The amount of disorder in the universe is always increasing.
B. To maintain organization of a cell, a continual input of energy is required.
C. Reactions that occur spontaneously are those that increase the amount of useful energy in a system.
D. While the total amount of energy is unchanged, the energy lost as heat is no longer useful to the cell in doing work.
Answer: C
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Which of the following statements regarding the gray market is true?
A. Gray market goods allow consumers to purchase items for less than they could normally. B. Gray market exchanges occur when the price of an item is the same in both countries where the exchange occurs. C. The gray market is a benefit for manufacturers, but not for consumers. D. The interconnected nature of world economies has made it easier for firms to track gray market exchanges. E. The gray market involves the illegal buying and selling of goods.
Which of the following entries records the withdrawal of cash for personal use by Ty Knott, the owner of a business?
A. debit Ty Knott, Drawing, and credit Cash B. debit Cash and credit Ty Knott, Capital C. debit Salary Expense and credit Cash D. debit Cash and credit Salary Expense
Mold & Dye Corporation is a private employer involved in an employment discrimination suit under the Civil Rights Act of 1964. Punitive damages may be recovered against Mold & Dye only if the employer
A. acted with malice or reckless indifference. B. can easily afford to pay the amount. C. has one hundred or more employees. D. consents.
When the quantity of materials purchased is not equal to the quantity of material used, most companies base the calculation of the material quantity variance on the:
A. quantity of direct materials purchased. B. quantity of direct materials spoiled. C. quantity of direct materials actually used. D. quantity of direct materials that should have been used in achieving actual production. E. none of the other answers are correct.