Oxygen Sensors Are Being Discussed

question 10

Multiple Choice

Oxygen sensors are being discussed. Technician A says the zirconia type sensor changes resistance with the presence of oxygen. Technician B says the titania type sensor changes voltage with the presence of oxygen. Who is correct?

• A) Technician A only
• B) Technician B only
• C) Both A and B
• D) Neither A nor B

Identify and apply the correct accounting treatment for donations, including restricted, unrestricted, and endowment contributions.

Distinguish between the methods of reporting for not-for-profit organizations and the implications of each method.

Distinguish between the types of funds within an NFPO and the reporting requirements for each.

Recognize correct accounting treatments for capital assets, including capitalization, amortization, and exemption conditions.

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Definitions:

Periodic Inventory System

An inventory system that updates inventory balances at the end of a period, relying on physical counts to measure stock levels.

Detailed Records

Comprehensive, accurate documentation of transactions, activities, or events, maintained for reference and compliance.

Goods Held for Resale

Refers to items that a company has in its inventory that are purchased with the intention of being sold to customers rather than being used in the production process.

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest.