Baad Industries Is a Division of a Major Corporation

question 27

Multiple Choice

Baad Industries is a division of a major corporation. Last year the division had total sales of $20,440,000, net operating income of $1,860,040, and average operating assets of $7,000,000.
-The division's turnover is closest to:

• A)0.27
• B)2.92
• C)10.99
• D)2.31

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Balance of Payments

A comprehensive record of a country's financial transactions with the rest of the world over a specific time period, including exports and imports of goods and services, financial transfers, and investments.

Oxfam America

A branch of the international confederation Oxfam, focused on addressing poverty, hunger, and injustice through advocacy and humanitarian efforts.

Drought Victims

Individuals or communities adversely affected by prolonged periods of below-average precipitation, leading to water shortages and damaging agricultural productivity.