Joseph Company Reported the Following Information for the Current Year

question 59

Multiple Choice

Joseph Company reported the following information for the current year: $\begin{array}{llr} \text {Sales } &\$787,000\\ \text { Average operating assets} &\$375,000\\ \text { Desired ROI } &12\%\\ \text { Residual income } &\$11,250\end{array}$
The company's operating income was:

• A) $94,440.
• B) $56,250.
• C) $45,000.
• D) $33,750.

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Definitions:

Generalizations

Broad statements or conclusions drawn from specific instances, often used to simplify complex information.

Inferences

Deductions or conclusions drawn from evidence and reasoning rather than from explicit statements.

Feasibility Section

A part of a plan or proposal that evaluates the practicality and possibility to implement the project or solution successfully.

Allotted Time

A specific duration designated for a particular task or activity.