A Student Receives Grades of 63,75,66 in Three Midterms (Out

question 105

Short Answer

A student receives grades of 63,75,66 in three midterms (out of 100 points).The final exam is worth 200 points.The student needs at least 70% to get a grade of C in the course.How many points,at least,must the student obtain (out of 200 points)to get a grade of C?

---

Definitions:

Insurance Expense

Insurance expense refers to the cost incurred by an entity to obtain coverage against various risks, recorded as an expense in the financial statements.

Ending Inventory

The total value of a company's merchandise that has not been sold at the end of an accounting period.

Overstated

When financial statements or records show values higher than the true or actual amounts, falsely inflating a company's perceived financial health.

LIFO Conformity Rule

A tax regulation requiring companies that use the last-in, first-out (LIFO) inventory method for tax reporting to also use it for financial reporting purposes.