The Table Below Shows Hypothetical Tuition Costs at a Canadian

question 22

Multiple Choice

The table below shows hypothetical tuition costs at a Canadian university. TABLE 2-1 Refer to Table 2-1.Assume that 2017 is used as the base year,with the index number = 100.The value of the index number in 2015 is calculated as follows:

• A)5000/5100 = 0.98.
• B)(5100/5000)× 100 = 102.
• C)5100/5000 = 1.02.
• D)5100/5100 = 100.
• E)(5000/5100)× 100 = 98.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.

Increases

An upward adjustment or rise in an account value, assets, revenue, or profits within a company's financial statements.

Unearned Rent Revenue

Income received by a landlord in advance of providing rental space or services, recognized as a liability until the obligation is fulfilled.

Asset

An asset of monetary worth that is possessed or managed by a person, company, or nation, with the anticipation that it will yield benefits in the future.