The Total Assets Amount to $24,000 and the Total Liabilities

question 82

Multiple Choice

The total assets amount to $24,000 and the total liabilities amount to $18,000. The amount of the owner's equity is

• A) $16,000.
• B) $42,000.
• C) $18,000.
• D) $6,000.

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Definitions:

Rough ER

A part of the endoplasmic reticulum with ribosomes attached to its surface, involved in protein synthesis and folding.

Initiator tRNA

A specialized transfer RNA that is charged with the amino acid methionine in eukaryotes (or a formylmethionine in prokaryotes) and plays a crucial role in the initiation of protein synthesis.

Start Codon

The codon AUG, which signals the beginning of translation of messenger RNA. Compare with stop codon.

Assembly

The process of putting together various parts or elements to form a complete unit or system, often used in manufacturing and production contexts.