A College Charters a Bus for $1848 to Take a Group

question 15

Multiple Choice

A college charters a bus for $1848 to take a group of students to the Fiesta Bowl.When two more students join the trip, the cost per student decreases by $2.00.How many students were in the original group?

• A) 42
• B) 28
• C) 34
• D) 41
• E) 49

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Definitions:

Ordinary Unsecured Creditor

A creditor who has no special rights to assets of a debtor in the event of the debtor's bankruptcy.

Trade Creditors

Entities to whom money is owed for goods and services provided on credit as part of normal business operations.

Liquidator's Remuneration

The compensation paid to a liquidator for their services in administrating the process of winding up a company's affairs and distributing its assets.

Liquidation Account

An account created to collect transactions and balances during the process of liquidating or winding up a company.