Question: A company reports the following:   Sales $4,400,000 Average total assets (excluding long-term investments) 2,000,000 Determine the asset turnover ratio.

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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A company reports the following:

 

Sales $4,400,000
Average total assets (excluding long-term investments) 2,000,000

Determine the asset turnover ratio.

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