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.

Question

Quizplus · Accepted Answer

$45,000,000 of tuition and fees - $4,800,000 of scholarships = $40,200,000

A Private College Had Tuition and Fees for the Year