When Ice Floats in Water,a Small Part of It Extends

question 13

Multiple Choice

When ice floats in water,a small part of it extends above the surface.Interestingly enough,the volume of ice that extends above the surface is equal to the volume of the

• A)water the ice displaces.
• B)vast number of open spaces in the hexagonal ice crystals.
• C)both of these
• D)neither of these

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Definitions:

Opportunity Costs

A rephrased definition: The potential gains or benefits that are lost when choosing one alternative over another in decision-making.

Gross Margin

The difference between sales revenue and the cost of goods sold, expressed as a percentage of sales revenue.

Income Statement

A financial statement that shows a company’s revenues, expenses, and profits or losses over a specific period.

Committed Fixed Cost

Expenses a company has committed to, unrelated to its level of production or business activity.