A Piece of Wood Is Floating on the Water

question 36

Multiple Choice

A piece of wood is floating on the water. Which one of these statements correctly describes buoyant force?

• A)It is zero.
• B)It is equal to the weight of the wood.
• C)It is equal to all the other forces acting on the wood, but is opposite in direction.
• D)It is equal in magnitude but opposite in direction to the weight of the wood.

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Definitions:

Credit Sales

Transactions where goods or services are sold to a customer with an agreement to pay at a later date.

Cash Collection

The process of receiving and processing payments from customers.

Revenue Recognition

The accounting principle that determines the specific conditions under which income becomes realized as revenue, often at the time of sale or service delivery.

Gross Profit

The difference between revenue from sales and the cost of goods sold, indicating the amount before deducting operating expenses, taxes, and other charges.