Final answer:
The software industry is likely to have the lowest percentage of fixed assets compared to its total assets, due to its reliance on intangible assets rather than physical equipment. option (D)
Step-by-step explanation:
The industry with the lowest percentage of fixed assets to total assets among the options provided is likely to be the software industry. Fixed assets are physical assets that are used in the operations of a business and are not easily converted into cash. Industries such as transportation, which include aviation and shipping, typically have higher percentages of fixed assets due to the necessity of owning physical equipment like vehicles, aircraft, and ships.
On the other hand, the software industry primarily relies on intangible assets such as intellectual property and digital products, which do not fall under fixed assets. This industry, therefore, would generally have a lower proportion of fixed assets in comparison to total assets.