Cloverton Corporation Had Net Income of $30,000, Net Sales of $1,000,000

question 98

Multiple Choice

Cloverton Corporation had net income of $30,000, net sales of $1,000,000, and average total assets of $500,000. Its return on total assets is:

• A) 200%
• B) 1.5%
• C) 6%
• D) 3%
• E) 17%

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Definitions:

Intranet

A private network accessible only by an organization's staff, often used to share information, operational systems, or computing services within the organization.

Extranet

A private network that uses Internet technology and public telecommunication systems to securely share part of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.

Enterprise Network

An organization’s network, which is composed of interconnected multiple LANs and WANs.

Traditional Network

A communication framework that relies on physical infrastructure and basic software for connectivity and data transfer among users.