Determine the Net Profit for a Venture with the Following

question 29

Multiple Choice

Determine the net profit for a venture with the following financial information: revenues = $500,000; return on assets = 20%; and asset turnover = 2.0 times.

• A)$10,000
• B)$25,000
• C)$50,000
• D)$60,000

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Definitions:

Skill-Based Pay Programs

Compensation systems that determine pay levels based on the skills or knowledge an employee possesses, rather than their job title or position.

Profit-Sharing Program

A profit-sharing program is a company policy where employees receive a portion of the company's profits, typically as a bonus or addition to their regular salary, based on the company's performance.

Track Performance

The act of monitoring and evaluating the progress of an individual, group, or system towards a goal.

First Year

The initial period or the start phase of a specific time frame, such as a student's first year in university or an employee's first year at a job.