Sanchez Corporation Has Total Assets, Current Liabilities, and Long-Term Liabilities

question 78

Multiple Choice

Sanchez Corporation has total assets, current liabilities, and long-term liabilities of $40,000, $2,000, and $13,000, respectively. If Sanchez purchases equipment for $5,000 for cash, how much would shareholders' equity be?

• A)$25,000
• B)$10,000
• C)$29,000
• D)$11,000

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Definitions:

Polypeptide Production

The process of synthesizing polypeptides, which are long chains of amino acids, through transcription and translation of genetic information.

Initiation

The start phase in various biological and chemical processes, such as the beginning of DNA replication or protein synthesis.

Elongation

In the context of protein synthesis, elongation is the stage during which amino acids are sequentially added to the growing polypeptide chain by the ribosome.

Termination

The process of ending or concluding something, which in biological contexts can refer to the end of a biochemical process or the death of an organism.