Assuming That, After the Payment of Liquidation Expenses in the Amount

question 54

Multiple Choice

Assuming that, after the payment of liquidation expenses in the amount of $12,000 was made and the noncash assets were sold, if Creighton has a deficit of $8,000, for what amount would the noncash assets have been sold?

• A) $170,000.
• B) $264,000.
• C) $158,000.
• D) $146,000.
• E) $185,000.

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Definitions:

Decomposer

An organism, usually a bacterium or fungus, that breaks down dead cells and materials, recycling nutrients back into the ecosystem.

Producer

Organisms, typically plants, that produce their own food through the process of photosynthesis, serving as a primary source of energy in a food chain.

Nitrogen

A chemical element, denoted by N, which is a vital component of amino acids and nucleic acids.

Ammonium

A positively charged ion (NH4+) formed by the addition of a hydrogen ion to ammonia, important in nitrogen metabolism.