A Company Reported Net Income of $100,000 and Average Total

question 31

Short Answer

A company reported net income of $100,000 and average total assets of $425,000.Calculate its return on total assets.

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Definitions:

Canada Revenue Agency

The federal agency responsible for administering tax laws for the Government of Canada and for most provinces and territories.

Contractors

Individuals or companies that provide services or perform tasks on behalf of another entity under the terms of a contract, rather than being employed directly.

Classification

The process of organizing or categorizing items, information, or jobs into specific groups or categories.

Control Over Work

The extent to which employees can influence their tasks, work conditions, and schedules in their job.