The following information pertains to Caravan Company: $\begin{array}{ll}
\text { Total assets } & \$ 150,000 \
\text { Total current liabilities } & 110,000 \
\text { Total expenses } & 60,000 \
\text { Total liabilities } & 115,000 \
\text { Total revenues } & 80,000
\end{array}$ The income percentage of revenue is:
A) 25%
B) 50%
C) 133%
D) 75%

Question

Quizplus · Accepted Answer

The income is calculated as Total Revenues - Total Expenses = $80,000 - $60,000 = $20,000. The income percentage of revenue is then ($20,000 / $80,000) * 100% = 25%.

The Following Information Pertains to Caravan Company The Income Percentage of Revenue Is: A) 25% B) 50

The Following Information Pertains to Caravan Company The Income Percentage of Revenue Is:
A) 25%
B) 50