Condor Company Provided the Following Information for Last Year -Refer to the Figure

question 58

Multiple Choice

Condor Company provided the following information for last year:
$$\begin{array} { l l } \text { Operating income } & \$ 60,000 \\\text { Sales } & \$ 240,000 \\\text { Beginning operating assets } & \$ 440,000 \\\text { Ending operating assets } & \$ 450,000\end{array}$$
-Refer to the Figure.What was Condor's turnover ratio last year?

• A)0.10
• B)0.16
• C)0.32
• D)0.54

---

Definitions:

Termination Notice

A formal declaration that a contract, employment, or agreement is ending, often specifying the effective date and conditions of termination.

Actual Notification

For third parties who have previously dealt with the agent or who have begun to deal with the agent. This can be accomplished by (1) a direct personal statement to the third party or (2) a writing delivered to the third party personally, to his place of business, or to some other place reasonably believed to be appropriate.

Agency Termination

The process by which the relationship between a principal and their agent is ended, which could be due to expiration, mutual agreement, or other reasons.

Obligations

Legal or moral duties or responsibilities that an individual or entity is bound to perform or fulfill towards others.