The Income Statement for Otto Construction Company Appears Below

question 58

Multiple Choice

The income statement for Otto Construction Company appears below:
Average total assets total $240,000.Otto's income tax rate is 25%.
What is the return on assets?

• A) 15.6%
• B) 15.8%
• C) 16.8%
• D) 17.6%

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Definitions:

Contexts

Circumstances or settings surrounding a particular event, statement, or idea that affect its interpretation.

Uncertainty

The state of being unsure or having doubts, often due to a lack of information or knowledge about a situation or outcome.

Critical Thinking Habit

A pattern of intellectual behavior that involves the rigorous and systematic questioning of assumptions and evidence.

Atheist

An individual who does not believe in the existence of any gods or deities.