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The Consumer Products Division of Goich Corporation had average operating assets of $900,000...

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Accounting

The Consumer Products Division of Goich Corporation had average operating assets of $900,000 and net operating income of $73,500 in May. The minimum required rate of return for performance evaluation purposes is 8%.

What was the Consumer Products Division's residual income in May?

Multiple Choice

  • $(1,500)

  • $5,880

  • $1,500

  • $(5,880)

Answer & Explanation Solved by verified expert
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