Blanche Started a Business by Contributing $24 000 Cash and a Truck

question 77

Multiple Choice

Blanche started a business by contributing $24 000 cash and a truck valued at $40 000. The company then purchased equipment by paying the $24 000 cash as a down payment (which accounted for half its purchase price) , and financed the other half by signing a note payable at the bank. After the above transactions, Blanche's company balance sheet is: Assets Liabilities Owners' Equity

• A) $64 000 $0$64 000
• B) $88 000 $0$88 000
• C) $88 000 $24 000$64 000
• D) $112 000$24 000$88 000

---

Definitions:

Erikson's Theory

A psychosocial development theory outlining eight stages from infancy to adulthood, each characterized by a psychological crisis.

Feelings of Inferiority

Emotions stemming from a belief that one is less worthy or less capable than others, often influencing one's self-esteem.

Sense of Industry

A stage in Erik Erikson's theory of psychosocial development where children gain confidence through achieving tasks and competencies.

Mental Structures

Refer to the complex, underlying frameworks that organize and interpret information in the mind, influencing how we perceive, think, and remember.