The Table Below Shows Hypothetical Tuition Costs at a Canadian

question 3

Multiple Choice

The table below shows hypothetical tuition costs at a Canadian university.
TABLE 2-1
-Refer to Table 2-1.Assume that 2014 is used as the base year,with the index number = 100.The value of the index number in 2012 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:

Checkbook Balance

The total amount of money available in an individual's checking account, as recorded in their checkbook.

Outstanding Checks

Checks that have been written and recorded in the accounting books but not yet cashed or cleared by the bank.

Automatic Transfer

A banking service that automatically moves funds from one account to another at scheduled times or under specific conditions.

Adjusted Cash Balance

The cash amount shown on a company's books after adjustments have been made for checks outstanding, deposits in transit, and other discrepancies.