Multiple Choice
McCourty Enterprises has a return on assets of 7%. If it has $2.5 million in total assets and a total asset turnover of 1.5, it follows that the firm must have a net profit margin of
A) 10.5%.
B) 6.3%.
C) 5.4%.
D) 4.67%.
Correct Answer:
Verified
Correct Answer:
Verified
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