Determine the October 20xx ROI (Rounded to Two Decimal Places)for

question 106

Multiple Choice

Determine the October 20xx ROI (rounded to two decimal places) for an investment center with the following information: $\begin{array}{lr}\text { Assets at September } 30,20 \mathrm{xx} & \$ 20,000,000 \\\text { Assets at October } 31,20 \mathrm{xx} & 22,000,000 \\\text { Assets at October } 15,20 \mathrm{xx} & 18,595,000\end{array}$


$\text { Operating income for the month ended October } 31,20 \mathrm{xx} \quad 5,000,000.0$ Operating income for the month ended October 31,20xx 5,000,000.0

• A) 25.8 percent
• B) 21.8 percent
• C) 23.8 percent
• D) 27.8 percent

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Definitions:

Credit Products

Financial products offered by institutions that provide borrowers with funds under the agreement of future repayment, including interest and other terms.

Receivables Balance

The cumulative sum of funds due to a business from its clients for products or services provided on a credit basis.

Accounts Receivable Period

The typical duration in days that a company requires to receive payment following a sale.

Sales

The activities involved in selling goods or services directly to consumers or end-users.