ETS Exam 2 Questions with 100% Correct Answers 2024/2025
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Course
ETS
Institution
ETS
ETS Exam 2 Questions with 100% Correct Answers 2024/2025
Compliance - ANSWERSFastest growing sector of the gas industry.
There's opportunities for - ANSWERSFront, Middle, and Back office
Logistics is consistent of - ANSWERSProcessing
Purchase = - ANSWERSExpense and Payable
Transpor...
ETS Exam 2 Questions with 100%
Correct Answers 2024/2025
Compliance - ANSWERSFastest growing sector of the gas industry.
There's opportunities for - ANSWERSFront, Middle, and Back office
Logistics is consistent of - ANSWERSProcessing
Purchase = - ANSWERSExpense and Payable
Transportation = - ANSWERSExpense, Payable and Money, Fuel
Processing = - ANSWERSexpense & payable and revenue & sales
Sale = - ANSWERSReceivable and Revenue
Extracting Gas - ANSWERSRevenue and Receivable
Storage is INVENTORY = - ANSWERSpayable & expense and charge in money & fuel
Injection - ANSWERSDecrease supply expense
Withdrawl - ANSWERSIncrease supply expense
Matching Principal - ANSWERSDeferred Asset
-you can only expense what you are selling
, -It creates stability, reality and reliability to income profit and loss
AICPA - ANSWERSAmerican Institute of certified public accountatants
What is the Orifice Plate used for? - ANSWERSFor metering the gas, for gas measurement
What is the Orifice Plate measuring? - ANSWERSquantity of gas "MCF"
What does the lab give you - ANSWERSBtu factor
How do you get the mmbtu, heating volume? - ANSWERSBy multiplying btu factor and mcf
Upstream is associated with? - ANSWERSbefore
Downstream is associated with? - ANSWERSafter
What is the most important price? - ANSWERSFront door price
Why are processing plant important? - ANSWERSThey are necessary because they get you to standard
and market ready
If you give more energy in BTU would you give more or less MCF? - ANSWERSless
when you sell liquid byproducts it is ALWAYS - ANSWERSa REVENUE, a gain or loss
When liquid price is > market cost &
< market cost - ANSWERS> Profit
< Loss
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