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Question: ABC Enterprises had sales of $900,000 and a cost of merchandise sold of $300,000 during a year. The total assets balance at the beginning of the year was $230,000 and at the end of the year was $220,000. Calculate the ratio of sales to total assets. a. 4 b. 4.35 c. 0.25 d. 0.29

Question: ABC Enterprises had sales of $900,000 and a cost of merchandise sold of $300,000 during a year. The total assets balance at the beginning of the year was $230,000 and at the end of the year was $220,000. Calculate the ratio of sales to total assets. a. 4 b. 4.35 c. 0.25 d. 0.29

FINANCIAL ACCOUNTING
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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Question: ABC Enterprises had sales of $900,000 and a cost of merchandise sold of $300,000 during a year. The total assets balance at the beginning of the year was $230,000 and at the end of the year was $220,000. Calculate the ratio of sales to total assets. a. 4 b. 4.35 c. 0.25 d. 0.29
Transcribed Image Text:Question: ABC Enterprises had sales of $900,000 and a cost of merchandise sold of $300,000 during a year. The total assets balance at the beginning of the year was $230,000 and at the end of the year was $220,000. Calculate the ratio of sales to total assets. a. 4 b. 4.35 c. 0.25 d. 0.29
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