A Total Asset Turnover Ratio of 3

question 290

Multiple Choice

A total asset turnover ratio of 3.5 indicates that

• A)For every $1 in sales,the firm acquired $3.50 in assets during the year
• B)For every $1 in assets,the firm produced $3.50 in net sales during the year
• C)For every $1 in assets,the firm earned gross profit of $3.50 during the year
• D)For every $1 in assets,the firm earned $3.50 in earnings per share
• E)For every $1 in assets,the firm paid $3.50 in dividends per share

---

Definitions:

Directed Verdict

A ruling by a judge in a jury trial, typically taking place before the jury deliberates, concluding that no reasonable jury could reach a different conclusion and therefore a verdict is directed without jury consideration.

Judgment As A Matter Of Law

A legal ruling by a judge, typically during a trial, stating that no reasonable jury could find for the other side based on the factual evidence presented.

Pretrial Conference

A meeting between the parties involved in a legal case and a judge to discuss the details of the trial, settle procedural matters, and sometimes resolve the case without a trial.

Settlement

is an agreement reached either before or after court action begins, where parties resolve a dispute without a trial.