Leete Inc Reported the Following Results from Last Year's Operations

question 34

Multiple Choice

Leete Inc. reported the following results from last year's operations: $\begin{array}{lr}\text { Sales } & \$ 14,000,000 \\\text { Variable expenses } & 9,660,000 \\\text { Contribution margin } & 4,340,000 \\\text { Fixed expenses } & 2,940,000 \\\text { Net operating income } & \$ 1,400,000 \\\end{array}$ Last year's margin was closest to:

• A) 79.0%
• B) 31.0%
• C) 20.0%
• D) 10.0%

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Definitions:

Adolescent Egocentrism

A characteristic of adolescent thought that involves difficulty differentiating between the self's perceptions and the thoughts of others.

Imaginary Audience

A cognitive distortion believed by adolescents that they are constantly being watched and judged by others.

Personal Fable

A belief often held by adolescents that they are unique and their experiences are different from anyone else's, contributing to a sense of invincibility.

Social Thinking

The process by which individuals interpret, analyze, remember, and use information about the social world.