The Following Balances Have Been Excerpted from Edwards' Balance Sheets

question 82

Multiple Choice

The following balances have been excerpted from Edwards' balance sheets:

Edwards Company paid or collected during 2013 the following items:

The insurance expense on the income statement for 2013 was

• A)$28,000.
• B)$40,000.
• C)$43,000.
• D)$55,000.

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Definitions:

Estuary

A partially enclosed coastal body of water with one or more rivers or streams flowing into it, and with a free connection to the open sea.

Epilimnion

The upper layer of water in a stratified lake, which is warm and well-oxygenated during the summer.

Hypolimnion

The cooler, deeper layer of water in a stratified lake, lying below the warmer, upper epilimnion layer and not mixing with it.

Large Herbivores

Big plant-eating animals that feed predominantly or exclusively on vegetation, such as elephants, giraffes, and bison.