Answer the Following Questions Using the Information Below:
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question 139

True/False

Answer the following questions using the information below:
The top management at Watersport Company, a manufacturer of water sport equipment, is attempting to recover from a fire that destroyed some of their accounting records. The main computer system was also severely damaged. The following information was salvaged:
$\begin{array} { l r r r r } & \text { Jetski Division } & \text { Boat Division } & \text { Surfboard Division } \\\text { Sales } & \$ 7500000 & ( \mathrm { a } ) & \$ 1800000 \\\text { Net operating profit } & \$ 750000 & \$ 1080000 & \$ 450000 \\\text { Operating assets } & ( \mathrm { b } ) & ( \mathrm { c } ) & \$ 1500000 \\\text { Retum on investment } & 0.20 & 0.10 & ( \mathrm {~d} ) \\\text { Retum on sales } & ( \mathrm { e } ) & 0.12 & 0.25 \\\text { Investment turnover } & \text { (f) } & ( \mathrm { g } ) & 1.2\end{array}$
-A major weakness of comparing two companies using only operating profits as the basis of comparison is that this method ignores differences in the size of the investment required to earn the operating profit.

Recognize signs and consequences of failure to thrive (FTT) and non-organic failure to thrive (NOFTT).

Understand the concepts of progressive, regressive, and proportional taxation.

Identify the major sources of federal and state revenue.

Calculate personal income tax and understand the concept of marginal tax rate.

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Definitions:

Employment-At-Will Doctrine

The Employment-At-Will Doctrine is a legal principle in the United States that allows either the employer or the employee to terminate employment at any time, for any reason, or for no reason at all, with a few exceptions.

Equal Employment

Policies and practices designed to prevent discrimination against employees or job applicants based on race, gender, age, religion, or other non-merit factors.

Procedural Justice

The concept that fair and transparent processes are crucial in decision-making contexts, leading to greater acceptance of decisions by those affected, even if the outcomes are not favorable to them.