The First Law of Thermodynamics Has as Its Basis the Same

question 40

Multiple Choice

The first law of thermodynamics has as its basis the same fundamental principle as

• A) the continuity principle.
• B) the conservation of energy.
• C) Newton's law of universal gravitation.
• D) static equilibrium.
• E) the conservation of linear momentum.

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Definitions:

Capacity Utilization

The percentage of a firm or country's productive capacity that is being used at a given time.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash within a year.

Percentage of Sales Approach

A forecasting method that estimates future financial outcomes based on a percentage relationship between sales growth and other financial accounts.

Financial Planning

The process of setting objectives, assessing assets and resources, estimating future financial needs, and making plans to achieve monetary goals.