Larry's Lab Has Sales of $35,750, Net Fixed Assets of $14,500

question 117

Multiple Choice

Larry's Lab has sales of $35,750, net fixed assets of $14,500, current assets of $12,300, and cost of goods sold of $30,000. Which of the following is the fixed asset turnover ratio for the business?

• A) 1.18 times
• B) 1.19 times
• C) 2.47 times
• D) 2.91 times

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Definitions:

Behavioral Change

Modifications or transformations in human actions or reactions due to various factors such as learning, therapy, or life experiences.

Conditioned Reinforcer

A stimulus that gains its reinforcing power through its association with a primary reinforcer; often used in behavior modification and conditioning.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, which affects the likelihood of certain behaviors being repeated.

Classical Conditioning

The process of acquiring knowledge by forming associations between a stimulus present in the environment and one that naturally occurs.