A Person Looks Horizontally at the Edge of a Swimming

question 5

Multiple Choice

A person looks horizontally at the edge of a swimming pool. If its length is 5 m, and the pool is filled to the surface, to what depth (in m) could the observer see? (n for water is 1.33)

• A) 3.2
• B) 4.4
• C) 2.1
• D) 1.0
• E) 0.3

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Definitions:

Valuation Allowance

A reserve created against deferred tax assets that may not be realized, reflecting a reduction in the assets' carrying value on the balance sheet.

Adjustment

An entry made in the accounts to correct an error or account for a transaction not recorded in the regular accounting period.

Available-for-sale Securities

Financial assets that are bought with the intention of selling before their maturity date, but not classified as held-for-trading or held-to-maturity investments.

Stockholders' Equity

It represents the ownership interest of shareholders in the assets of a company, after deducting liabilities.