David Has an Income of $30 to Buy Movie Tickets

question 11

Multiple Choice

David has an income of $30 to buy movie tickets and bus tickets.The price of a movie ticket is $6 and the price of a bus ticket is $2.What is David's real income?

• A)$30
• B)5 movie tickets or 15 bus tickets
• C)15 movie tickets or 5 bus tickets
• D)$38
• E)$32

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been subtracted from total revenue.

Cost of Goods Sold

Costs incurred directly by the production process of goods a company sells, covering both materials and labor.

Unearned Rent Revenue

Payments received by a property owner for rent that are not yet considered earned income, as the rental period they apply to has yet to elapse.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial position.