What is the asset turnover ratio on these general accounting question? A company reported total sales revenue of $25,000. Its average totalassets during the year were $50,000. What is the asset turnover ratio?Options:A. 0.4B. 0.5C. 0.75D. 1.0

Detailed explanation:Question : What is the asset turnover ratio ? Given : Sales Revenue $…

Answered: A company reported total sales revenue…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company reports the following: Sales $8,296,860 Average total assets (excluding long-term investments) 1,063,700 Determine the asset turnover ratio. Round your answer to one decimal place.fill in the blank 1

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A company reported total sales revenue of $25,000. Its average total assets during the year were $50,000. What is the asset turnover ratio? Options: A. 0.4 B. 0.5 C. 0.75 D. 1.0