46. Assume U.S. GAAP (generally accepted accounting principles) applies unless
otherwise noted.
Two companies operating in the same industry both achieved the same return on
equity with the same net sales, but the two companies were different with respect
to return on total assets. Compared with the company that had the higher return
on total assets, the company with the lower return on total assets most likely had a
higher:
A. total asset turnover.
B. financial leverage multiplier.
C. proportion of common equity in its capital structure.
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