Solve the Problem Using the Elimination Method

question 79

Multiple Choice

Solve the problem using the elimination method.
-There were 380 people at a play. The admission price was $2 for adults and $1 for children. The admission receipts were $600. How many adults and how many children attended?

• A)150 adults and 230 children
• B)80 adults and 300 children
• C)160 adults and 220 children
• D)220 adults and 160 children

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Definitions:

Return On Common Equity

Return on Common Equity (ROCE) measures the return a company generates on the common equity held by its shareholders, indicating how effectively equity is used to generate profits.

Net Income

A company's overall earnings minus all expenditures and tax obligations.

Preferred Stock

A class of ownership in a corporation with a fixed dividend that is paid before any dividends are paid to common stockholders. Preferred stock typically does not have voting rights.

Return On Assets Ratio

A profitability ratio that measures how efficiently a company can manage its assets to produce net income, calculated by dividing net income by total assets.