Kurtz Logistics provides the following information
Operating income $1,600,000
Net sales $13,500,000
Average total assets $1,850,000
Management's target rate of return 20%
What is the company's profit margin ratio?
A) 13.7%
B) 11.9%
C) 86.5%
D) 1.1%
B .B) Profit margin ratio = Operating Income / Net Sales = $1,600,000 / $13,500,000 = 11.9%
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A contract is created when ________
A) the acceptance has been received by the offeror B) an acknowledgement is sent by the offeror to the offeree of receiving an acceptance C) the offeree dispatches the acceptance D) a written acceptance has been passed between the offeror and the offeree
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