A Company Reported Net Sales of $850,000, Net Income of $200,000

question 126

Short Answer

A company reported net sales of $850,000, net income of $200,000 and average total assets of
$575,000. Calculate its return on total assets.

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Definitions:

Posthumously Acquitted

A legal declaration that reverses a convicted individual's criminal status after their death.

Validity

Refers to the extent to which a test, experiment, or measurement accurately measures what it is intended to measure.

Culture-fair Tests

Psychological tests designed to be free from cultural bias, allowing for fair assessment across different cultures.

Intellectual Skills

Abilities related to thinking, reasoning, and solving problems that are considered higher-level cognitive functions.