Return on Invested Capital and Profitability Analysis
Question Description
Whencalculating return on net operating assets, analysts sometimes makeadjustments to the net operating asset base used in the denominator ofthe ratio. Three possible adjustments are listed below. Explain whatthese adjustments are, and discuss the merits of these adjustments.
- Non-operating asset adjustment
- Intangible asset adjustment
- Accumulated depreciation adjustment
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