Question

The return on assets ratio relates financial data from the balance sheet with financial data from the:

Select one:

A. Statement of cash flows

B. Statement of owners' equity

C. Income statement

D. Balance sheet

Answer 1

Please find below the solution…………let me know if you need any clarification.

Correct answer is option : C. Income statement

Return on asset = Net income/ Total asset. Net income is from income statement therefore answer is option C).