Marino Company Has Provided the Following Information: Net Sales,$480,000

question 82

Multiple Choice

Marino Company has provided the following information: Net sales,$480,000
Net income,$24,000
Average total assets,$200,000
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What is Marino's return on assets?

• A)240%
• B)12%
• C)5%
• D)42%

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance and no excess supply or demand.

Equilibrium Quantity

The quantity of goods or services supplied equals the quantity demanded at the market equilibrium price.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the amount of it that producers are willing and able to supply at various prices.

Increase In Supply

A situation where the quantity of a good that producers are willing and able to sell at a particular price rises.