Refer to Table 4-2. The Operating Profit Margin ratio for 2007 was approximately
A) 0.22. B) 0.17. C) 0.18. D) 0.12.
C
Business
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The duty of performance requires agents to ________
A) keep books accurately B) exercise reasonable care and skill in performing their work C) communicate all material information to a principal D) follow all the instructions of a principal
Business
When a depreciable asset is sold, a tax gain or tax loss on disposal is calculated, based on the book value of the asset at the time of disposal. If a ________ has occurred, a ________ is recorded
A) gain, tax credit B) gain, tax reduction C) loss, tax credit D) loss, tax increase
Business