Use the Following Information for Questions

question 18

Multiple Choice

Use the following information for questions.
-The rate of return on assets for Hoyle in 2010 is

• A)20.0%.
• B)22.7%.
• C)25.0%.
• D)27.8%.

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Definitions:

Income Tax Return

A document filed with the government that reports income, expenses, and other pertinent tax information.

Depreciation Method

A systematic approach used to allocate the cost of a tangible asset over its useful life, reflecting consumption, wear and tear, or obsolescence of the asset.

Units-of-Production Method

A depreciation method where the expense is based on the asset's usage, output, or units produced, rather than time.

Straight-Line Method

A method of calculating depreciation by evenly allocating the cost of an asset over its useful life.