Pressure at a Point Deep in an Ocean Is Estimated

question 32

Multiple Choice

Pressure at a point deep in an ocean is estimated to be 1.074 × 10³ kPa. What is the average atmospheric pressure at that point?

• A) 1.074 × 10^-1 atm
• B) 1.060 × 10⁶ atm
• C) 1.060 x 10¹ atm
• D) 1.074 × 10^-4 atm
• E) 1.074 × 10³ atm

---

Definitions:

Prospectively

Prospectively means looking forward or considering future events, often used in accounting in terms of adopting new policies for future transactions.

LIFO Reserve

The difference between the cost of inventory calculated under the Last In, First Out (LIFO) method and another inventory costing method like First In, First Out (FIFO).

Deferred Taxes

Taxes that are owed but not yet paid, arising from temporary differences between accounting and tax treatments of income and expenses.

Retrospective Adjustment

A change applied to the accounting records of prior periods to correct an error or implement a change in accounting principle.