Junebag Corporation Reported Net Income $24,000; Net Sales $400,000; and Average

question 153

Multiple Choice

Junebag Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2017. What is the 2017 profit margin?

• A) 6%
• B) 4%
• C) 40%
• D) 67%

Analyze the effects of international transactions on a country's GDP.

Comprehend the basics of the circular-flow diagram in economic modeling.

Analyze economic behavior using basic supply and demand tools in the context of GDP.

Understand the concept and components of Gross Domestic Product (GDP) and its importance as an economic measure.

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Definitions:

Testis

A male reproductive organ responsible for producing sperm and hormones, such as testosterone.

Mammary Glands

Specialized organs in mammals that produce milk for feeding their young.

Excessive Development

An abnormal or unusually high growth or enlargement in structure or size.

TUNA

Transurethral Needle Ablation, a minimally invasive procedure used to reduce symptoms of an enlarged prostate.