Which of the following is the correct formula for calculating rate of return on total assets?
A) Rate of return on total assets = (Net income + Interest expense) / Average total assets
B) Rate of return on total assets = (Net income - Interest expense) / Average total asset.
C) Rate of return on total assets = (Net income - Interest expense) / Total assets
D) Rate of return on total assets = Total equity / Total assets
Correct Answer:
Verified
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