Flash Reported Net Income of $17,500 for the Past Year

question 46

Multiple Choice

Flash reported net income of $17,500 for the past year. At the beginning of the year the company had $200,000 in assets and $50,000 in liabilities. By the end of the year, assets had increased to $300,000 and liabilities were $75,000. Calculate its return on assets:

• A) 8.8%
• B) 7.0%
• C) 5.8%
• D) 35.0%
• E) 23.3%

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Definitions:

Biological Model

An approach to psychology focusing on understanding human behavior in terms of biological responses and processes.

Learning Model

A theoretical framework that describes how individuals acquire, process, and retain knowledge or skills.

Addiction

A psychological and physical inability to stop consuming a chemical, drug, activity, or substance, even though it is causing psychological and physical harm.

Alcoholism

A chronic disease characterized by uncontrolled drinking and a preoccupation with alcohol.