Junebag Corporation Reported Net Income $24,000; Net Sales $400,000; and Average

question 81

Multiple Choice

Junebag Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2022.What is the 2022 profit margin?

• A)6%
• B)4%
• C)40%
• D)67%

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Definitions:

Lyndon Johnson

The 36th President of the United States, serving from 1963 to 1969, known for his domestic policies like the Great Society and civil rights advancement.

Official Poverty Line

The base level of earnings needed to secure a decent standard of living within a particular country.

Family of Four

A household unit consisting of four members, commonly used as a standard demographic model for analysis and policy-making.

William Julius Wilson

A sociologist from America who is recognized for his contributions to urban sociology, as well as his studies on race and socio-economic class within the United States.