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A company had net income of $450,000 in Year 1 and $620,000 in Year 2. The company had average total assets of $2,500,000 in Year 1 and $3,000,000 in Year 2. Calculate the return on total assets for Year 1and Year 2. Comment on the results, did the company's performance improve?
Market Control
The ability of a firm or entity to influence or dictate terms and conditions within a particular market.
Control Process
A systematic effort by businesses to set performance standards, measure actual performance, compare it to these standards, and take corrective action if necessary.
Measuring Performance
The process of evaluating the effectiveness and efficiency of an individual's or organization's work, often involving qualitative and quantitative metrics.
Control Process
A systematic approach that involves setting standards, measuring actual performance, and taking corrective actions to ensure achievement of an organization’s objectives.
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