The Following Financial Statement Information Is Available for James Corporation

question 97

Multiple Choice

The following financial statement information is available for James Corporation: The profit margin ratio for 2015 is

• A)15.4%.
• B)47.9%.
• C)32.1%.
• D)13.5%.

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Definitions:

Products

Goods or services offered by businesses to meet consumer needs and wants.

Competitive Firms

Companies that operate in a market where there are many buyers and sellers, such that no single entity can dictate the market price of goods and services.

Price

The monetary value that must be paid to secure a good or service.

Product

Anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.