A Company's Return on Total Assets Equals 30

question 54

Multiple Choice

A company's return on total assets equals 30%.If net income and net sales are $900,000 and $8,900,000 respectively,what is the amount of total assets?

• A)$2,670,000
• B)$270,000
• C)$29,666,667
• D)$3,000,000
• E)$2,940,000

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Definitions:

Inventory

An amount of materials or products kept in storage.

Quality Evaluation

The process of assessing the degree to which a product or service meets specified standards and satisfies customer expectations.

Organic

Relating to or derived from living matter; in business, it often refers to growth or processes that occur naturally within the organization.

Technical Skills

The specific knowledge and abilities required to perform tasks related to science, engineering, technology, or other specialized fields.