Cloverton Corporation Had Net Income of $30,000,net Sales of $1,000,000,and

question 47

Multiple Choice

Cloverton Corporation had net income of $30,000,net sales of $1,000,000,and average total assets of $500,000.Its return on total assets is:

• A)3%
• B)200%
• C)6%
• D)17%
• E)1.5%

---

Definitions:

Complements

Items that, when used or consumed together, enhance the value or enjoyment of both, often leading to an increase in demand for one when the price of the other decreases.

Sales Strategy

A planned approach to selling products or services with the aim of achieving consistent, long-term sales growth.

Excess Demand

Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, often leading to shortages.

Upward Pressure

Describes a situation in financial markets or economies where there is a force or trend leading to an increase in prices or rates.