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:

Electron Transfer Chain

In a cell membrane, series of enzymes and other molecules that accept and give up electrons, thus releasing the energy of the electrons in small, usable steps.

ATP Synthesis

The biochemical process creating ATP (adenosine triphosphate), the primary energy carrier in cells, through cellular respiration or photosynthesis.

Glycolysis

The metabolic pathway that breaks down glucose to pyruvate, generating energy in the form of ATP and NADH, occurring in the cytoplasm of cells.