Partridge Inc

question 20

Multiple Choice

Partridge Inc.provides the following information for the year 2014:
- The company has no preferred stock outstanding.Calculate the dividend payout ratio.

• A)67.02%
• B)33.33%
• C)30.00%
• D)72.46%

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Definitions:

Closing Rates

The exchange rates used to convert the financial statements of a foreign subsidiary into the presentation currency of the parent company for consolidation purposes.

Functional Currency

The primary currency used by a business or unit, reflecting the economic environment in which it primarily operates.

Foreign Operation

A subsidiary, associate, joint venture, or branch of a company that is located in a country different from the one where the parent company operates.

Presentation Currency

The currency in which a company's financial statements are presented.