Company X Has Net Sales Revenue of $1,250,000,cost of Goods

question 3

Multiple Choice

Company X has net sales revenue of $1,250,000,cost of goods sold of $760,000,and all other expenses of $290,000.The beginning balance of stockholders' equity is $400,000 and the beginning balance of fixed assets is $361,000.The ending balance of stockholders' equity is $600,000 and the ending balance of fixed assets is $389,000.The fixed asset turnover ratio is closest to:

• A) 0.53.
• B) 2.50.
• C) 3.33.
• D) 0.80.

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Definitions:

Social Security Benefits

Payments made to eligible individuals (retirees, disabled workers, and their families) from the Social Security program, funded by Social Security taxes.

Need-Based

A criteria or qualification that is determined by the applicant's financial need or income level, often used for financial aid or grants.

Mortality Rate

A measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time.

Social Security Retirement Benefit

A government payment program that provides financial assistance to people who are retired from work.