Which One of the Following Statements About Standard States Is

question 27

Multiple Choice

Which one of the following statements about standard states is incorrect?

• A)The standard state of a solid compound is the pure solid.
• B)The standard state of a liquid compound is the pure liquid.
• C)The standard state of a gaseous compound is the gas at a pressure of 1 atmosphere.
• D)The standard state of an aqueous solute is a saturated solution in water.
• E)The standard state of an element is the form in which it is stable at 1 atm and a specified temperature, usually 25°C.

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Definitions:

Overstated Inventory

A situation where the book value of inventory is recorded higher than its actual physical count or market value, potentially misleading financial statements.

Owner's Equity

The residual interest in the assets of a business after all liabilities are deducted, often considered the net worth of a business.

Inventory Turnover

A financial ratio indicating how many times a company's inventory is sold and replaced over a specified period, measuring efficiency in managing stock levels.

Merchandise Sold

The total goods that have been sold by a company, typically measured over a specific period like a fiscal quarter or year.