Data from Lheureux Corporation's most recent balance sheet and the company's income statement appear below:
-The times interest earned ratio for Year 2 is closest to:
Definitions:
Return on Investment
A measure of the gain or loss generated on an investment relative to the amount of money invested.
Budget Performance
The comparison of actual financial outcomes against the planned or budgeted amounts.
Standard Costs
Predetermined costs assigned to goods and services, used as benchmarks for measuring performance and preparing budgets.
Actual Costs
The real expenses that a company incurs in producing goods or services.
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