A Balloon with a Volume of 5

question 28

Multiple Choice

A balloon with a volume of 5.65 L at room temperature (25°C) is placed in insulated container that is cooled with dry ice where the temperature is -19°C. What is the volume of the balloon in the container when its temperature reaches -19°C? Assume no change in pressure.

• A)6.63 L
• B)4.29 L
• C)7.43 L
• D)4.82 L

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Definitions:

Extraordinary Gains and Losses

Unusual and infrequent events that significantly affect a company's financial performance, reported separately on the income statement to provide a clearer picture of ongoing operations.

IFRS

International Financial Reporting Standards, a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements.

GAAP

Generally Accepted Accounting Principles, a set of rules and standards designed to improve the clarity, consistency, and comparability of financial reporting across industries in the United States.