FastLane Has Net Income of $18,955, and Assets at the Beginning

question 53

Multiple Choice

FastLane has net income of $18,955, and assets at the beginning of the year of $200,000. Assets at the end of the year total $246,000. Compute its return on assets.

• A) 7.7%.
• B) 8.5%.
• C) 9.5%.
• D) 11.8%.
• E) 13.0%.

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Definitions:

Market Analysis

The assessment of a given market to understand its size, trends, growth potential, and competitive landscape, often used to inform business strategies and decisions.

Qualitative Data

Information that cannot be measured with numbers, often related to descriptions, qualities, or opinions.

Probing Questions

Questions designed to elicit more detailed and in-depth responses from a conversation or interview partner.

Secondary Data

Marketing data that have been gathered, tabulated, and made available by an outside source.