QUESTION: A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover is equal to: a. 0.82 b. 0.90 c. 1.09 d. 1.11 e. 1.26
QUESTION: A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover is equal to: a. 0.82 b. 0.90 c. 1.09 d. 1.11 e. 1.26
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QUESTION:
A company had average total assets of $897,000. Its
gross sales were $1,090,000 and its net sales were
$1,000,000. The company's total asset turnover is
equal to:
a. 0.82
b. 0.90
c. 1.09
d. 1.11
e. 1.26
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