Lesson 3 Quiz

Family tuition is noticeably higher in September, December, March, and June. Why? *

Tuition rates went up those months

Those months have five billing Mondays

More families enrolled those months

Fees were added to tuition

Tuition discounts grow from $1,972 in July to $5,265 in June. As a share of gross tuition, discounts went from about 4% to about: *

12%

20%

October shows one of the highest net incomes of the year ($18,907). What makes that number misleading? *

It includes a $25,000 restricted grant; without it, October was a loss

October had five billing weeks

Payroll was not recorded in October

Depreciation was skipped

Harbor Oak's net income for the year is $129,914. Excluding the restricted grant, it is about: *

$105,000

$130,000

$155,000

$25,000

Bad debt expense of $5,780 appears only in June. What does it represent? *

A vendor the center forgot to pay

A family balance the center does not expect to collect

A loan payment

A refund to a family

Personnel costs are about what share of Harbor Oak's total expenses? *

40%

55%

70%

90%