Doherty Corporation Had Net Income of $30,000, Net Sales of $1,000,000

question 139

Multiple Choice

Doherty Corporation had net income of $30,000, net sales of $1,000,000, and average total assets of $500,000. Its return on total assets is:

• A) 3%
• B) 200%
• C) 6%
• D) 17%
• E) 1.5%

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Definitions:

West Mexico

A region notable for its archaeological sites, including shaft tombs and characteristic figurines, reflecting the area's pre-Columbian cultures.

Archaeological Work

The systematic study of past human life and culture by the recovery and examination of remaining material evidence, such as graves, buildings, tools, and pottery.

Tiered Platforms

Multi-level structures used in architecture and design to create distinct areas of elevation.

Olmec Heads

Large, carved stone heads from the ancient Olmec civilization of Mesoamerica, signifying significant rulers or deities.