Dowling Company's Net Income Last Year Was $40,000 and Its

question 115

Multiple Choice

Dowling Company's net income last year was $40,000 and its interest expense was $8,000.Total assets at the beginning of the year were $260,000 and total assets at the end of the year were $315,000.The company's income tax rate was 35%.The company's return on total assets for the year was closest to

• A) 14.5%.
• B) 15.7%.
• C) 16.7%.
• D) 7.9%.

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Definitions:

Salespeople

Professionals engaged in the selling of goods or services, typically working to meet sales targets and interact with customers.

KISS Rule

"Keep It Simple, Stupid" rule advises that simplicity should be a key goal in design and unnecessary complexity should be avoided.

Salespeople

Individuals who are responsible for selling products or services to customers, focusing on meeting the customers' needs and closing sales.

KISS Rule

A design principle stating "Keep It Simple, Stupid", emphasizing the importance of simplicity in products and systems.