Answer:
return on assets= 0.09= 9%
Explanation:
Giving the following information:
The Kingwood Company reported a net income of $40,000 and the average total assets of $440,000.
To calculate the return on assets, we need to use the following formula:
return on assets= net income / average total assets
return on assets= 40,000 / 440,000= 0.09
Closing entries are necessary for temporary accounts only.
A closing entry involves shifting data from temporary accounts on the income statement to permanent accounts on the balance sheet. This closing entry is a journal entry which is made at the end of the accounting period.
The temporary accounts include expenses, revenue, dividends, and so these accounts are to be closed at the end of the accounting year. Thus, the purpose of closing entry is to reset the temporary account balances to zero on the general ledger.
Hence, temporary accounts are used to record accounting activity during a specific period of time.
To learn more about closing entries here:
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Option C
Membership in the Knights of Labor was: open to all working people, including employers.
<u>Explanation:</u>
The Knights of Labor was a particularly growing team and the primary leading national labor party in the United States. Most of the utmost earlier associations restrained membership to proficient workers those with specific practice in a craft and white fellows. It dawned as a covert group proposed to defend its members from employer retaliations.
Emigrants, African Americans, and gentlewomen were also esteemed as members. the Knights of Labor gained patron amidst coal excavators in Pennsylvania, and with railroad operators By 1886, the Knights pretended more than 700,000 members everywhere.
Answer: c.
Explanation: The unemployment rate may underestimate the true extent of unemployment if there are a large number of people working in the underground economy . While the underground economy also known as the black economy may conjure up images of drug deals and prostitution rings, the term actually has much broader scope. It refers not only to illegal economic activity, but all economic activity that goes unreported to government authorities and consequently, avoids being taxed. one of the primary reasons the underground economy exists is that people are trying to evade taxes. But increased government regulations that can make the cost of doing business higher also create an incentive to avoid reporting certain economic activity to the government. An increase in the number of unemployed increases the number of people who work in the black economy because they have more time. On the other hand, an increase in unemployment implies a decrease in the shadow economy.
