The Figure Shows Three Identical Lightbulbs Connected to a Battery

question 36

Multiple Choice

The figure shows three identical lightbulbs connected to a battery having a constant voltage across its terminals.What happens to the brightness of lightbulb 1 when the switch S is closed?

• A) The brightness will increase momentarily then return to its previous level.
• B) The brightness increases permanently.
• C) The brightness will decrease momentarily then return to its previous level.
• D) The brightness remains the same as before the switch is closed.
• E) The brightness decreases permanently.

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Definitions:

Perpetual LIFO

Perpetual LIFO, or Last-In, First-Out, is an inventory accounting method continuously updating inventory and costs of goods sold by assuming the last items purchased are the first to be sold.

Ending Inventory

The worth of products ready for purchase at the conclusion of a financial period.

Cost Flow Assumption

A method adopted by businesses to value inventory and determine the cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out).

FIFO

"First In, First Out," an inventory valuation method assuming that the first items purchased are the first ones sold, affecting the cost of goods sold and ending inventory value.