Chavin Company Had the Following Results During August: Net Operating

question 141

Multiple Choice

Chavin Company had the following results during August: net operating income,$220,000; turnover,5; and ROI 25%.Chavin Company's average operating assets were:

• A) $880,000
• B) $44,000
• C) $55,000
• D) $1,100,000

---

Definitions:

Dominant Strategy

A strategy in game theory that yields the best outcome for a player, regardless of the opponent's actions.

Sherman Antitrust Act

The Sherman Antitrust Act is a landmark U.S. law passed in 1890 aimed at preventing anticompetitive practices and promoting fair competition.

Antitrust Policy

Legislation enacted by federal or state government to prevent new monopolies from forming and to break up those that already exist in order to promote competition and ensure fair practices in the marketplace.

Monopolies

A market structure characterized by a single seller who has exclusive control over a product or service, with no close substitutes.