The Food Expenses Per Person for the Chemistry Team Trip

question 182

Multiple Choice

The food expenses per person for the chemistry team trip is when n team members share the cost of the trip in dollars. The faculty sponsor of the chemistry team has food expenses (included in the equation) but does not pay anything. If the cost per person is $22.30 how many team members went on the trip?

• A) 10 members
• B) 9 members
• C) 11 members

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Definitions:

Net Realizable Value

The estimated selling price of goods or assets in the course of normal business, minus any costs associated with the sale or completion.

Gross Receivables

The total amount of money owed to a company by its customers before deducting any allowance for doubtful accounts.

Bad Debt Expense

An expense reported on a company's income statement, representing the estimated amount of accounts receivable that will not be collected.

Sales Returns

Goods returned to the seller by the customer post-purchase due to defects or dissatisfaction, affecting the seller's revenue.