An Appliance Store Has Total Assets of $2,800,000, Accounts Receivable

question 61

Multiple Choice

An appliance store has total assets of $2,800,000, accounts receivable of $900,000, accounts payable of $700,000, inventory valued at $1,500,000, and total liabilities of $2,500,000. In 2016, its net sales were $2,100,000, and its operating profit margin equaled $42,000. Calculate the store's return on assets.

• A) 71.4 percent
• B) 2.8 percent
• C) 7.5 percent
• D) 1.5 percent
• E) 75 percent

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Definitions:

Agents of Socialization

Individuals, groups, or institutions that play significant roles in integrating people into society by teaching social norms, values, and practices.

Dramaturgists

Researchers who approach social interactions as theatrical performances, where individuals manage impressions and roles in front of others.

Formal Commandments

Established laws or rules, often of a religious nature, that are explicitly laid out and expected to be followed by the members of a community.

Hidden Curriculum

The unspoken or implicit values, behaviors, and norms that are learned through the educational system, beyond the formal curriculum.