The Average Score for a Class of 30 Students Was

question 141

Multiple Choice

The average score for a class of 30 students was 75. The 15 male students in the class averaged 70. The 15 female students in the class averaged:

• A)85.
• B)80
• C)75
• D)70

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Definitions:

Inventory Valuation

The method used to assign a monetary value to inventory, including FIFO, LIFO, and weighted average cost methods.

Current Cost

The cost that would be incurred to replace an asset or to purchase a service at the present time as opposed to its historical cost.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a particular point in time, showing assets, liabilities, and shareholders' equity.

Consignment Goods

Goods that are given to a third party to sell, but ownership remains with the supplier until the goods are sold.