Question
The school basketball team is selling raffle tickets to raise money for an upcoming tournament. Each ticket costs$4 with a chance to win one grand
The school basketball team is selling raffle tickets to raise money for an upcoming tournament. Each ticket costs$4 with a chance to win one grand prize of $800. The team expects to sell 500 tickets. Is this a good fundraiser for the basketball team?
| No, this is not a good fundraiser for the basketball team because they can expect to lose $1.60 from each ticket sold. | |
| No, this is not a good fundraiser for the basketball team because they can expect to lose $2.40 from each ticket sold. | |
| Yes, this is a good fundraiser for the basketball team because they can expect to make $1.60 from each ticket sold. | |
| Yes, this is a good fundraiser for the basketball team because they can expect to make $2.40 from each ticket sold. |
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
