What Is the Value of Current Assets A)$ 50,000
B)$ 58,000
C)$ 85,000
D)$ 115,000

question 63

Multiple Choice

What is the value of current assets? $$\begin{array} { l l l l } \text { Cash } & \$ 50,000 & \text { Irventory } & \$ 9,000 \\\text { Sales } & \$ 30,000 & \text { Accounts Payable } & \$ 9,000 \\\text { Cost of Goods Sold } & \$ 8,000 & \text { Accourts Receivable } & \$ 18,000 \\\text { Prepaid Irsurance } & \$ 8,000 & \text { Insurance Expense } \$ 9,000 & \\& & \text { Long-Tern Liabilities (due withirn one year) } & \$ 30,000\end{array}$$

• A)$ 50,000
• B)$ 58,000
• C)$ 85,000
• D)$ 115,000

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Definitions:

Continental Slope

A submarine slope that connects the continental shelf with deeper seafloor.

Hydrothermal Vents

Openings in the seafloor that emit hot, mineral-rich water, supporting unique ecosystems despite the extreme conditions.

Drill Cores

Cylindrical sections of rock extracted from the Earth by drilling, often used for geological research and analysis.

Black Smokers

Hydrothermal vents on the ocean floor that emit dark clouds of mineral-rich water, typically found along mid-ocean ridges.