Marino Company Has Provided the Following Information: Net Sales, $480,000

question 19

Multiple Choice

Marino Company has provided the following information: Net sales, $480,000
Net income, $24,000
Average total assets, $200,000
What is Marino's asset turnover ratio?

• A) 12.0
• B) 8.33
• C)0.42
• D)2.4

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Definitions:

Ancillary Revenue

Ancillary Revenue is the income earned by a business from secondary sources, beyond its primary product or service offerings, such as merchandise or licensing fees.

Screen Actors Guild

A labor union representing actors in the film and television industry, known for negotiating and enforcing contracts to ensure fair working conditions and wages.

Union Negotiation

The process wherein union representatives and employers discuss and agree upon the terms of employment, including wages, working conditions, and other employment terms.

Cult Classic

A film that has acquired a highly devoted but specific group of fans. Often, these movies may have been initially unpopular or considered odd but gained a loyal following over time.