The West Division of Cecchetti Corporation had average operating assets of $240,000 and net operating income of $42,200 in August. The minimum required rate of return for performance evaluation purposes is 19%.What was the West Division's residual income in August?
A. $3,400
B. $(8,018)
C. $(3,400)
D. $8,018
Answer: C
You might also like to view...
In business presentations, the backchannel is
A) the "notes" portion of an electronic slide, which only the presenter can see. B) subtle, nonverbal cues the presenter sends during the presentation. C) electronic communication among audience members during the presentation. D) password-protected slides that only certain audience members can see. E) an impromptu speech designed to take control of a presentation.
To compute departmental operating income, direct expenses are assigned to departments based on the actual expenses incurred
a. True b. False Indicate whether the statement is true or false
The right to control the disposition of property at death has not always existed.
Answer the following statement true (T) or false (F)
Jovar Inc., a U.S. multinational, began operations this year. Jovar had pretax U.S. source income and foreign source income as follows: U.S. source income$600,000 Foreign source income-Country O 100,000 Total$700,000 Jovar paid $50,000 income tax to Country O. Compute Jovar's U.S. tax liability if it takes the foreign tax credit.
A. $204,000 B. $147,000 C. $97,000 D. $126,000