At the Beginning of a Buffet Meal a Manager Placed

question 22

Multiple Choice

At the beginning of a buffet meal a manager placed $1,100 worth of food on the buffet line. During the meal another $500 of food was added to the line. At the end of the meal the value of the remaining food was $400. The manager served 100 guests. What was the buffet's cost per guest served during this meal period?

• A) $12.00
• B) $12.50
• C) $13.00
• D) $13.50

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Definitions:

Maturities

The term dates on which debts or investments are due to be paid or settled.

Bond Issue

The process by which a borrower, such as a company or government, raises funds by selling bonds to investors, with the promise to pay back with interest at future dates.

Term Bonds

Term bonds are fixed income securities issued with a fixed maturity date at which the principal amount is due to be paid to investors.

Interest Dates

Specific dates on which interest payments are made or calculated on bonds, loans, or deposits.