Dacker Products is a division of a major corporation. The following data are for the most recent year of operations: Sales$36,480,000 Net operating income$2,808,960 Average operating assets$8,000,000 The company's minimum required rate of return 16%The division's margin used to compute ROI is closest to:
A. 7.7%
B. 21.9%
C. 35.1%
D. 29.6%
Answer: A
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Tanning Company uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $300,000 and credit sales are $1,000,000. An aging of accounts receivable shows that 5% will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment?
A) Bad Debts Expense 13,000Allowance for Doubtful Accounts 13,000 B) Bad Debts Expense 15,000Allowance for Doubtful Accounts 15,000 C) Bad Debts Expense 13,000Accounts Receivable 13,000 D) Bad Debts Expense 15,000Accounts Receivable 15,000
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Answer the following statement true (T) or false (F)
The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "strengths, weaknesses, opportunities, and threats."
Answer the following statement true (T) or false (F)