The Following Questions Refer to the Paragraph Below

question 50

Multiple Choice

The following questions refer to the paragraph below.
An elementary school science teacher decided to liven up the classroom with a salt-water aquarium. Knowing that salt-water aquaria can be quite a hassle, the teacher proceeded stepwise. First, the teacher conditioned the water. Next, the teacher decided to stock the tank with various marine invertebrates, including a polychaete, a siliceous sponge, several bivalves, a shrimp, several sea anemones of different types, a colonial hydra, a few coral species, an ectoproct, a sea star, and several gastropod varieties. Lastly, some vertebrates-a parrotfish and a clownfish-were added. She arranged for daily feedings of copepods and feeder fish.
-Parrotfish have mouths adapted to scrape algae off of coral, and can even munch on coral. The aquarium's corals rapidly dwindled; in their place were shards of

• A)chitin.
• B)calcium carbonate.
• C)silica.
• D)bone.
• E)chitin impregnated with calcium carbonate.

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Definitions:

Administrative Expense

Expenses associated with the general management of a business, such as salaries of executives, office supplies, and utilities.

Statement of Owner's Equity

A financial document reflecting changes in the equity of a company's owners over a certain period, including capital contributions, withdrawals, and the net income or loss.

Balance Sheet

A summary of a corporation's assets, liabilities, and equity held by shareholders, documented at a particular moment.

Periodic Inventory System

An accounting method where the inventory level is updated in the accounting records at specific intervals, rather than after each sale or purchase.