Logit Co Paid Dividends of $400

question 26

Multiple Choice

Logit Co. paid dividends of $400. And retained 33.33% of their earnings. The sales for the year were $12,000 and total assets of 10,000. What was the rate of return on assets?

• A) 5%.
• B) 6%.
• C) 10%.
• D) 12%.

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Definitions:

Reconstruction

The period after the American Civil War (1865-1877) during which the United States attempted to redress the inequities of slavery and its political, social, and economic legacy.

Lower South

Refers to the southeastern region of the United States, particularly states like South Carolina, Georgia, Alabama, Mississippi, and Louisiana, known for its distinct historical, cultural, and economic characteristics, including its role in the antebellum period and Civil War.

1865 Elections

The 1865 Elections refer to the political elections held in various countries; in the United States, these did not occur due to the Civil War's end and Reconstruction's beginning, which focused instead on state re-admission and rebuilding.

Southern Economy

Refers to the economic structure and practices of the Southern United States, historically based on agriculture and slave labor.