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

question 115

Multiple Choice

Doherty 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 equal to:

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

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Definitions:

Equilibrium

A state in which supply and demand are balanced, often referring to market equilibrium in economics.

Potential Buyers

Individuals or entities who have shown interest or have the capability to purchase a product or service but have not yet made the purchase.

Rustbucket

A derogatory term for a vehicle or ship that is old, in poor condition, and often rusty.

Used Cars

Pre-owned vehicles that have been previously registered and are available for sale, often at a lower price than new cars.