Which of the Following Statements Is FALSE Concerning Hydrothermal Vents

question 16

Multiple Choice

Which of the following statements is FALSE concerning hydrothermal vents?

• A) They are found in shallow waters near subduction zones.
• B) Certain animals are found at hydrothermal vents such as pogonophorans .
• C) Hydrothermal vents are found associated with spreading centers.
• D) Vent waters cool as they are released from the vent.

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Definitions:

Net Method

An accounting technique where discounts for early payment are assumed to be taken, reducing the amount recorded as accounts receivable.

Periodic Inventory System

An inventory valuation method where the inventory count and cost of goods sold is determined at the end of the accounting period.

Terms 4/15, N/60

A commercial credit term indicating that a 4% discount is available if paid within 15 days, with the net (full) amount due within 60 days.

Discount Lost

The expense incurred when a company fails to take advantage of the early payment discounts offered by suppliers.