Jennings, Inc. has a tax liability of $170,000 on pretax income of $500,000. What is the average tax rate for Jennings, Inc.?
A) 34 percent
B) 46 percent
C) 25 percent
D) 40 percent
A) 34 percent
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All of the following are the fundamental bases for future payoffs to equity shareholders and share value except:
a. earnings b. cash flows c. dividends d. depreciation
Which of the following statements is true for unsecured credit?
A. When goods are delivered on unsecured credit, the creditor retains all rights in the goods. B. Only consumers use unsecured credit for their personal transactions. C. The unsecured credit transaction involves maximum risk to the creditor. D. The creditor may require the debtor to convey to the creditor a lien on the debtor's property.
On a segmented income statement, fixed costs are broken down into direct fixed costs and common fixed costs
Indicate whether the statement is true or false
?Open market operations is a more flexible tool of monetary policy than changing the reserve requirements.
Answer the following statement true (T) or false (F)