By Knowing the Return on Assets for His Bakery Shop,Chuck

question 39

Multiple Choice

By knowing the return on assets for his bakery shop,Chuck will know:

• A) how much profit was generated from his investment in assets.
• B) information found only on his balance sheet.
• C) information found only on his income statement.
• D) total assets divided by net profits.
• E) total assets divided by owners' equity.

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Definitions:

Deposition

A pretrial question and answer proceeding, usually conducted orally, in which a party or witness answers an attorney's questions. The answers are given under oath, and the session is recorded.

Affirmative Defense

A defense in which the defendant introduces evidence to negate or reduce liability, rather than simply denying the plaintiff's allegations.

Answer

A defendant’s response to a plaintiff’s complaint.

Cross-Claim

A claim brought against a co-party in the same side of a legal action, asserting wrongdoing that contributed to the original lawsuit.