Sirius,Inc

question 57

Multiple Choice

Sirius,Inc.has average total assets of $300,000.The annual operating income of the company is $150,000.The target rate of return for the company is 15%.Calculate the residual income.

• A) $45,000
• B) $150,000
• C) $22,500
• D) $105,000

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Definitions:

Products and Services List

A catalog in accounting or business software that enumerates all the items or services a company sells or manages.

QBO

Stands for QuickBooks Online, a cloud-based accounting software used for business accounting and financial management.

Undeposited Funds

Funds that have been received but not yet deposited into the bank account.

Receive Payment

The process of collecting money from customers in exchange for goods or services provided.