Total Revenue for Apple Computers(in Millions)was $42,905 in 2009,$65,225 in 2010,and

question 49

Multiple Choice

Total revenue for Apple Computers(in millions) was $42,905 in 2009,$65,225 in 2010,and $108,249 in 2011.The average growth rate of revenue during these three years is the closest to _______.

• A) 36.13%
• B) 39.33%
• C) 58.84%
• D) 58.99%

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Definitions:

Balance Sheet

A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, giving a snapshot of its financial condition.

Fair Market Value

The price at which a property would sell in a competitive and open market, reflecting the value agreed upon by a willing buyer and seller.

Financial Position

An overview of an entity's economic resources, obligations, and net worth at a point in time, typically represented by the balance sheet.

Owners' Equity

The residual interest in the assets of a business after deducting its liabilities, representing the ownership's value in the firm.