For the financial year ended December 31, 2020, Khareef Salalah Company reported net sales of RO 10,000,000, net income of RO 2,000,000, total assets (31/12/19) of RO 2,000,000 of which RO 1,000,000 were non-current assets, and total assets (31/12/20) of RO 8,000,000 of which non-current assets were RO 2,600,000. Khareef Salalah Company's asset turnover ratio is:
For the financial year ended December 31, 2020, Khareef Salalah Company reported net sales of RO 10,000,000, net income of RO 2,000,000, total assets (31/12/19) of RO 2,000,000 of which RO 1,000,000 were non-current assets, and total assets (31/12/20) of RO 8,000,000 of which non-current assets were RO 2,600,000. Khareef Salalah Company's asset turnover ratio is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![For the financial year ended December 31, 2020, Khareef Salalah Company reported net sales of RO 10,000,000, net
income of RO 2,000,000, total assets (31/12/19) of RO 2,000,000 of which RO 1,000,000 were non-current assets,
and total assets (31/12/20) of RO 8,000,000 of which non-current assets were RO 2,600,000. Khareef Salalah
Company's asset turnover ratio is:
O a.
0.4 times
O b. 5.56 times
O c.
None of the options are correct
O d. 2.00 times
e.
1.11 times
NEXT PAGE
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B.
Fed by
ws 10 S
acer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F56f1aca7-af01-4c41-ab8b-3446e0b71256%2F066a5a91-f3f9-4168-84b6-c58e3d0a7c6a%2F18afyt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For the financial year ended December 31, 2020, Khareef Salalah Company reported net sales of RO 10,000,000, net
income of RO 2,000,000, total assets (31/12/19) of RO 2,000,000 of which RO 1,000,000 were non-current assets,
and total assets (31/12/20) of RO 8,000,000 of which non-current assets were RO 2,600,000. Khareef Salalah
Company's asset turnover ratio is:
O a.
0.4 times
O b. 5.56 times
O c.
None of the options are correct
O d. 2.00 times
e.
1.11 times
NEXT PAGE
ype here to search
B.
Fed by
ws 10 S
acer
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