Information Related to the Berkley Company for the Calendar Year

question 10

Multiple Choice

Information related to the Berkley Company for the calendar year 2015 follows: Assuming no capital stock was issued during 2015, the net income earned by the Berkley Company during 2015 was

• A) $110
• B) $200
• C) $260
• D) $290

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Definitions:

Glycolysis

The metabolic pathway that converts glucose into pyruvate, producing ATP and NADH, and is the first step of cellular respiration in all living cells.

Fermentation

Anaerobic glucose-breakdown pathway that produces ATP without the use of electron transfer chains.

Pyruvate

A critical molecule in cellular metabolism that marks the end of glycolysis and the starting point for the Krebs cycle in aerobic respiration or fermentation in anaerobic conditions.

NAD+

Nicotinamide adenine dinucleotide, a coenzyme found in all living cells that is critical in metabolic processes, particularly in redox reactions.