Two Announcers Are Used to Read Names at the Semiannual

question 66

Multiple Choice

Two announcers are used to read names at the semiannual commencement exercises held at a regional university in America's heartland. All students have their names read then walk briskly to the president who shakes their hand and offers them an empty diploma cover until such time that all financial obligations to the university have been met. The president greets about 640 students in an eight-hour day. The diploma covers come in boxes of 24 and it takes one hour to carry one from the receiving dock to the field house where the ceremony is held. The president likes to keep things moving, so he has requested a 50% safety factor. How many containers are needed?

• A)two
• B)three
• C)four
• D)five

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Definitions:

Lending Money

The act of giving money to another party with the expectation that the money will be paid back, typically with interest.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use.

Investing Activities

Part of a company's cash flow statement that reports the purchase and sale of long-term investments and property, plant, and equipment.

Gain

Gain refers to an increase in economic benefits or inflow of assets that result in an increase in equity, not related to contributions from equity participants.