Corbin, Inc

question 42

Multiple Choice

Corbin, Inc. had net income of $150,000 on sales of $5,000,000 during 2016. In addition, the firm's total assets were $2,500,000, and its capital structure is comprised of 40% debt and 60% equity. What was Corbin's return on equity in 2016?

• A) 15%
• B) 2.5%
• C) 10%
• D) Return on equity cannot be determined with the information provided.

Design team training procedures focused on enhancing team members' interdependence, mental models, and transactive memory systems.

Identify conditions and processes distinguishing typical teams from highly effective teams.

Understand the principles and application of team autonomy and Hackman's authority matrix model in defining team types.

Use team roles and diversity effectively to build high-performing teams.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, demonstrating the sensitivity of consumers to price changes.

Demand Curve

A demand curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

More Elastic

Describes a scenario where the quantity demanded or supplied of a good or service is more responsive to changes in its price.

Income Elasticity

A measure used in economics to show how the demand for a good or service changes in response to changes in consumer income.