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Use This Balance Sheet and Income Statement to Answer the Following

question 27

Multiple Choice

Use this balance sheet and income statement to answer the following question.Use ending balances whenever average balances are required for computing ratios. $Use this balance sheet and income statement to answer the following question.Use ending balances whenever average balances are required for computing ratios. \begin{array}{c} \text {Abner Systems, Inc.}\\ \text {Income Statement}\\ \text {For the Year Ended December 31, 2010}\\\begin{array}{lr} \text { Net sales } & \$ 24,000 \\ \text { Costs of goods sold } & \underline{8,000} \\ \text { Gross margin } & \$ 16,000 \\ \text { Operating expenses } & \underline{8,000}\\ \text { Income before income taxes }&\$8,000 \\ \text { Income taxes }& \underline{3,200}\\ \text {Net income } & \$4,800 \end{array}\end{array} The return on assets for Abner Systems is A) 30 percent. B) 150 percent. C) 33-1/3 percent. D) 24 percent.$ $\begin{array}{c}\text {Abner Systems, Inc.}\\\text {Income Statement}\\\text {For the Year Ended December 31, 2010}\\\begin{array}{lr}\text { Net sales } & \$ 24,000 \\\text { Costs of goods sold } & \underline{8,000} \\\text { Gross margin } & \$ 16,000 \\\text { Operating expenses } & \underline{8,000}\\\text { Income before income taxes }&\$8,000 \\\text { Income taxes }& \underline{3,200}\\ \text {Net income } & \$4,800 \end{array}\end{array}$

The return on assets for Abner Systems is

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Impersonal Communication

Exchanges that are superficial in nature, lacking in-depth personal connection or emotional involvement between participants.

Interpersonal Communication

involves the exchange of information, feelings, and meanings between two or more people through verbal and non-verbal methods.

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Someone who is honest, clear, accurate, and considers the welfare of others when conveying messages.

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The beliefs, values, and moral principles by which a person determines what is right or wrong.