A Company Had Net Income of $40,000, Net Sales of $300,000

question 178

Multiple Choice

A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. Its profit margin and total asset turnover were respectively:

• A) 13.3%; 1.5.
• B) 13.3%; 0.2.
• C) 1.5%; 0.2.
• D) 2.0%; 1.5.
• E) 1.5%; 13.3.

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Definitions:

Fundamental Attribution Error

The inclination to excessively focus on individual traits while disregarding the influence of the context when evaluating the actions of others.

Motivation

The driving force behind an individual's actions, desires, and needs.

Political Conservatives

Individuals who generally prefer to uphold traditional values and are cautious about embracing change or innovation, often emphasizing free enterprise, private ownership, and socially conservative ideas.

Political Liberals

Individuals who typically advocate for social equality, personal freedoms, and governmental interventions to address social inequalities.