The Geelong Division of the Wasson Widget Co

question 62

Multiple Choice

The Geelong Division of the Wasson Widget Co. requires a 12% rate of return. During a recent year Shannon had a net profit of $400,000 and a residual income of $250,000. What was its ROI?

• A) 32%
• B) 15%
• C) 12%
• D) 26%

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Definitions:

Rule of Law

The principle that all individuals, institutions, and entities are accountable to laws that are publicly promulgated, equally enforced, and independently adjudicated.

Doctrines

Established principles or policies in law or religious beliefs that are taught and accepted as authoritative.

Administrative Law

The body of law that governs the activities of administrative agencies of government, including rules, regulations, procedures, and decisions.

Rescission

A remedy whereby a contract is canceled and the parties are returned to the positions they occupied before the contract was made; may be effected through the mutual consent of the parties, by their conduct, or by court decree.