Use the Following Information for the Next 4 Questions

question 27

Multiple Choice

Use the following information for the next 4 questions.
Teresa's Taco Co. had the following results during the most recent year: Sales $500,000; Residual income $5,000; investment turnover 2.5; and a required rate of return of 15%.
-The return on sales was

• A) 7%
• B) 6.1%
• C) 38.5%
• D) 3.25%

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Definitions:

Association

An organized group of people who share a common interest, goal, or purpose, often working together to achieve objectives.

Imagery

Visual descriptive or figurative language, especially in a literary work, used to create vivid pictures in the mind of the reader.

Due Dates

The specified deadlines by which tasks, assignments, or payments must be completed or submitted.

Memory Process

The sequence of activities involved in encoding, storing, and retrieving information in the human brain.