Reference: 12-12
the Sherlock Division Recorded Operating Data as Follows

question 24

Multiple Choice

Reference: 12-12
The Sherlock Division recorded operating data as follows for the past year: $$\begin{array} { | l | r | } \hline \text { Sales } & \$ 300,000 \\\hline \text { Operating expenses } & 225,000 \\\hline \text { Average operating assets } & 225,000 \\\hline \text { Stockholders' equity } & 80,000 \\\hline \text { Minimum required rate of return } & 20 \% \\\hline\end{array}$$
-In computing the margin in a ROI analysis, which of the following is used in the denominator?

• A)Net operating income.
• B)Residual income.
• C)Average operating assets.
• D)Sales.

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