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Date Posted: 09:54:55 11/24/04 Wed
Author: Raymond
Subject: Re: Another sample Mid-term from Hodges
In reply to: Charles Hodges 's message, "Another sample Mid-term from Hodges" on 12:36:16 06/27/00 Tue

Can someone please tell me what the answer is, I can't find it in my book.

Thanks

10. Harmeling Enterprises experienced a decline in net operating profit after taxes (NOPAT). Which of the following definitely cannot help explain this decline?

a. Sales revenues decreased.
b. Costs of goods sold increased.
c. Depreciation increased.
d. Interest expense increased.
e. Taxes increased.

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