Two Life Preservers Have Identical Volumes, but One Is Filled

question 92

Multiple Choice

Two life preservers have identical volumes, but one is filled with styrofoam while the other is filled with sand. When the two life preservers are fully submerged, the buoyant force is greater on the
One filled with

• A) sand.
• B) styrofoam.
• C) same on each as long as their volumes are the same

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Definitions:

IFRS

Stands for International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for global use.

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the cost of a product.

FIFO

First-In, First-Out, an inventory valuation method where goods purchased first are sold first.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set.