If net income is $150,000 and interest expense is $20,000 for Year 2, what is the rate earned on total assets for the year?
a. 10.4%
b. 11.9%
c. 10.5%
d. 8.4%
b
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Which of the following is an important aspect of control over payroll?
A) controls to limit salaries and wages so that they are no higher than competitors B) controls for efficiency in payroll procedures C) controls to screen potential employees for criminal records D) controls to monitor employee behavior, such as use of security cameras
When callable bonds are redeemed below carrying value
A) Gain on Redemption of Bonds is credited B) Loss on Redemption of Bonds is debited C) Retained Earnings is credited D) Retained Earnings is debited
An organization’s strategy is not primarily designed to consider which of the following?
a. How the organization intends to provide value to its customers in the future b. How the organization makes decisions on a day-to-day basis c. How the organization intends to compete in the future d. How the organization provides value and competes at present