A Private College Had Tuition and Fees for the Year

question 39

Multiple Choice

A private college had tuition and fees for the year ended June 30, 2017 in the amount of $45,000,000. Scholarships, for which no services were required, amounted to $4,800,000. Graduate assistantships, for which services were required, amounted to $2,300,000. The amount to be reported by the college for net tuition and fee revenue would be:

• A) $37,900,000.
• B) $40,200,000.
• C) $42,700,000.
• D) $45,000,000.

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Definitions:

Balance of Trade

The difference between the value of a country's exports and imports over a certain period.

Balance of Payments

A statement that summarizes an economy’s transactions with the rest of the world for a specified time period, including trade, financial, and capital transactions.

Trade Surplus

A scenario where the value of goods a country sells abroad is higher than what it buys, reflecting a surplus in the trade balance.

Favorable Balance

A financial situation where the credits or revenues are greater than debits or expenses, leading to a net positive outcome.