Tom's Tool Factory Is an Investment Center and Is Responsible

question 56

Multiple Choice

Tom's Tool Factory is an investment center and is responsible for all of its net income and the use of its assets.This year,the invested assets totaled $475,000,and net income was $275,000.What is the rate of return on assets?

• A) 57.9%
• B) 172.3%
• C) 5.0%
• D) 115.0%

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Definitions:

Doctrine of Federal Subrogation

A legal principle allowing the government to take over the legal rights of a person to whom it has paid money, typically in insurance.

Concurrent Authority

Legal jurisdictions or powers that are shared by different governmental or regulatory bodies.

Unconstitutional

In violation of the principles or provisions of a constitution, especially referring to laws or actions that contradict a country's fundamental laws.

Social Welfare Objectives

Goals set by organizations or government bodies aimed at improving the well-being and quality of life of citizens, especially those in vulnerable situations.