Glycogen is the storage form of glucose, and is more readily accessible than starches or fats. It is used for short-term supply of glucose and in starvation conditions is used up in a matter of hours. It is mainly stored in the liver and skeletal muscle. Glycogenolysis in the liver results in glucose release into the bloodstream, whereas in the muscle the glucose is immediately used up. The highest demand for the glucose is in the muscle, and that is where most of it is stored.

In the first step of gluconeogenesis, pyruvate carboxylase (with ATP and bicarbonate) converts pyruvate to oxaloacetate. Then phosphoenolpyruvate carboxykinase (PEPCK) (with GTP) releases carbon dioxide to give phosphoenolpyruvate.

GTP and ATP are used to drive the reactions that make pyruvate into PEP. Specifically, ATP catalyzes PEP carboxylase and GTP catalyzes PEP carboxykinase. A mutase moves phosphate groups already on a molecule, so it cannot be used to introduce one. The citric acid cycle can make pyruvate into any of the citric acid intermediates, but PEP isn't one of them. Pyruvate kinase is the enzyme that makes pyruvate into PEP, which is only favorable in the forward direction.

Answering this question requires knowledge of the pathway of gluconeogenesis. In this pathway, non-carbohydrate carbon substrates such as lactate, pyruvate, and certain amino acids are used to generate glucose as the final product. Much of this pathway utilizes the same enzymes used in glycolysis, which is essentially the reverse of gluconeogenesis. However, it is critical to note that there are 3 reactions in glycolysis that are irreversible. Therefore, gluconeogenesis is not an exact reverse of glycolysis, and instead there are a few different enzymes in gluconeogenesis that bypass these irreversible reactions. One of the irreversible steps in glycolysis is the formation of pyruvate from phosphoenolpyruvate (PEP), catalyzed by the glycolytic enzyme pyruvate kinase. To bypass this irreversible reaction, gluconeogenesis makes use of two enzymes. First, the enzyme pyruvate carboxylase converts pyruvate into oxaloacetate, which requires the input of one molecule of ATP per molecule of pyruvate used. Next, the gluconeogenic enzyme PEP carboxykinase converts oxaloacetate into PEP, using one molecule of GTP per molecule of oxaloacetate used. The other step that requires an investment of energy is by a reaction that is reversible. The conversion of 3-phosphoglycerate into 1,3-bisphosphoglycerate (1,3-BPG) by the enzyme phosphoglycerate kinase utilizes one molecule of ATP per molecule of 1,3-BPG generated. This is a reversible reaction. Now, we can add up the energy requirements. Since each of these reactions need to occur twice in order to generate a single molecule of glucose, we'll need to multiply the energy investment by two in each step. Thus, we have two molecules of ATP from the reaction catalyzed by pyruvate carboxylase. We also have two molecules of GTP from the reaction catalyzed by PEP carboxykinase. And lastly, we have two molecules of ATP used from the reaction catalyzed by phosphoglycerate kinase. Adding all of these up, we have a total of four molecules of ATP and two molecules of GTP.

Oxaloacetate contributes to fatty acid synthesis, but it’s not a lipid, because, among other reasons, it’s not hydrophobic. This is also why it cannot cross mitochondrial membranes. Glucose can be synthesized from glycerol, but this process occurs via dihydroxyacetone phosphate, and doesn’t involve oxaloacetate. Oxaloacetate is synthesized from pyruvate, which is the end product of glycolysis, so oxaloacetate cannot be an intermediary in glycolysis. However, lactate can be converted to pyruvate, which is the principle substrate for gluconeogenesis (sometimes called “reverse glycolysis”). In gluconeogenesis, oxaloacetate is an intermediary in the conversion of pyruvate to phosphoenolpyruvate, and so that makes it an intermediary, too, in the synthesis of glucose from lactate.

Futile cycling occurs when two metabolic processes occur in opposite directions, and thus result in no net change. This is very wasteful, and not ideal. The only example of the answer choices of metabolic processes occurring in opposite directions is glycolysis and gluconeogenesis occurring simultaneously. Other possible examples could include: glycogenesis and glycogenolysis, beta-oxidation and fatty acid synthesis, etc.

Gluconeogenesis occurs in times of starvation, fasting, and low access to sources of glucose. This is the cells way of creating its own precursor when none is available, albeit at a high energetic cost (one cycle of gluconeogenesis can cost 6 ATP). Thus, it is untrue that gluconeogenesis occurs during high consumption of carbohydrates and fatty acids. Each other selection is true regarding gluconeogenesis. 

The Cori cycle comes into play during anaerobic conditions; where lactate from glycolysis travels from the muscle to the liver to be converted into glucose via gluconeogenesis. The glucose is then sent back to the muscle to be used for energy. Note that some of the lactate that is converted into glucose can be stored as glycogen in the liver, but glycogen is not transported from the liver to the skeletal muscle. 

In the absence of oxygen, oxidative phosphorylation cannot be used to produce ATP, so glycolysis becomes the primary source of ATP for the cell. The importance of lactic acid fermentation is that it replenishes cellular  for the glyceraldehyde-3-phosphate dehydrogenase reaction, which precedes the ATP-producing steps. Without lactic acid fermentation,  concentrations would become too low for the glyceraldehyde-3-phosphate dehydrogenase reaction to occur, and the ATP-producing steps would not continue to be reached. 

When glucose is fermented, it forms the product lactate.  Lactate can then continue on to be fermented to acetate. However, the other answer choices do not represent the correct direction from reactant to product in fermentation. In some organisms, ethanol and carbon dioxide may be produced via fermentation, but carbon dioxide is a byproduct, not a major product in these organisms.