Use the Following to Answer Questions
Pioneer Industries Gathered

question 40

Multiple Choice

Use the following to answer questions
Pioneer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
$$\begin{array} { l r r } \text { Curent Assets } & \frac { 2010 } { 2009 } & \frac { 2345 } { \$ 365 } \\\text { Long-Tenn Arsets } & 790 & 720 \\\text { Curtert Liabilities } & 280 & 310 \\\text { Long-Term Liabilities } & 410 & 440 \\\text { Owners' Equity } & 445 & 335 \\\text { Net Sales } & 830 & 790 \\\text { Gross Margir } & 375 & 355 \\\text { Net Income } & 120 & 105\end{array}$$
-The return on owners' equity for 2010 was:

• A)30.0%
• B)30.8%
• C)53.6%
• D)84.3%

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Definitions:

Alleged Benefits

Claimed advantages or positive outcomes that may not have been fully verified or proven.

Voluntary Export Restriction

An agreement by a country to limit the quantity of goods exported to another country to avoid tariffs or quotas.

Import Quota

A government-imposed limit on the quantity or value of a specific commodity that can be imported into a country.

Protective Tariff

A tax imposed on imported goods to shield domestic industries from foreign competition by making imported goods more expensive.