Administrators at a University Will Charge Students $150 to Attend

question 2

Short Answer

Administrators at a university will charge students $150 to attend a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. How many students would have to register for the seminar for the university to break even?

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Definitions:

Income Statement Analysis

Examination of the income statement, a financial document outlining a company's revenue, expenses, and profits over a period, to assess financial performance and health.

IRS Review

A process conducted by the Internal Revenue Service (IRS) in the United States to scrutinize and evaluate individual or corporate tax returns for accuracy and adherence to tax laws.

Income Tax Returns

The documentation filed to a taxation authority that reports income, expenses, and other relevant financial information, determining the amount of tax owed or refunded.

Unaudited Financial Documents

Financial statements that have not undergone a formal verification process by an independent auditor.