The International Boot Company Has Income from Operations of $80,000

question 151

Multiple Choice

The International Boot Company has income from operations of $80,000, invested assets of $500,000, and sales of $1,525,000.
What is the profit margin?

• A) 33.3%
• B) 5.2%
• C) 16.0%
• D) 19.1%

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Definitions:

Express Conditions

Specific stipulations or criteria that are clearly stated and must be met for a contract or agreement to be fulfilled.

Implied Conditions

Terms and stipulations that are not expressly stated but are understood to be included within a contract or agreement.

Condition Subsequent

In a contract, a future event that terminates the obligations of the parties when it occurs.

Conditional Contract

A contract that becomes enforceable only upon the occurrence of certain conditions or the performance of a particular act.