Use the Following Information for ECE Incorporated

question 51

Multiple Choice

Use the following information for ECE incorporated:
Assets $200 million
Shareholder Equity $100 million
Sales $300 million
-If ECE's return on assets (ROA) is 12% ,then ECE's return on equity (ROE) is:

• A) 10%
• B) 12%
• C) 18%
• D) 24%

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Definitions:

Ethiopia

A country located in the Horn of Africa, known for its ancient culture, archaeological sites, and being one of the oldest locations of human existence.

Nanjing

The capital city of Jiangsu Province in China, known historically for events such as the Nanjing Massacre during the Second Sino-Japanese War.

French Defeat

Refers typically to significant military losses by France, such as the 1940 defeat by Germany in World War II.

Doolittle Raid

A military operation during World War II where US bombers led by Lieutenant Colonel James Doolittle conducted an air raid on Tokyo and other Japanese cities in 1942.