Quoth Geek King
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BAKING SODA!
Wonderful stuff. It reacts with and neutralizes both Acids and Bases. Which is one of the reasons that many labs keep gobs of it around. It's also safe to use and there is no risk to using excess amounts of it, and since when heated it releases carbon dioxide, it makes for a dandy emergency fire stopper.
No substitute for a good ABC Dry-Chem extinguisher, but if the wok on the stove catches a grease fire I like to grab the Baking Soda first since I keep a box next to the stove for just such events. Grab...dump...cover with lid...go and get the real extinguisher just in case it didn't work.
If you have a liquid acid, then dump it on the puddle in dry form. This is what I had to do with my carpet (and yes I did have to replace that section of carpet). If it's a dry residue (such as on car battery terminals) dissolve it in water and pour over the terminals and then flush with clean water.
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