Recent Data Indicates That of the 1,900 Intercollegiate Sport Programs

question 46

Multiple Choice

Recent data indicates that of the 1,900 intercollegiate sport programs in the United States,

• A)the ones with top football teams have average annual profits of $7 million.
• B)most of them make enough money to permit reductions in student fees.
• C)those that are not affected by Title IX report the most profit.
• D)there are fewer than 25 that regularly have more revenues than expenses.

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Definitions:

Tax Paid

The total amount of federal, state, or local taxes remitted by individuals, corporations, or other entities to tax authorities.

Retained Earnings

The portion of a company's profit that is held or retained and saved for future use, reinvestment, or to pay debt, rather than being distributed to shareholders as dividends.

Interest Expense

The cost incurred by an entity for borrowed funds, typically expressed as a yearly rate.