Shelli's Ski Super Has Sales of $670, Net Fixed Assets

question 23

Multiple Choice

Shelli's Ski Super has sales of $670, net fixed assets of $210, total assets of $305, and current assets of $25. Which of the following is the total asset turnover ratio for the business?

• A) 0.46 times
• B) 2.2 times
• C) 3.19 times
• D) 26.8 times

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Definitions:

Scarce Resources

Goods that are limited in availability and cannot meet all the demands of the consumers.

Total Income

The summation of all earnings or revenue generated by an individual or entity, before any deductions or taxes.

Income Share

The proportion of total national or group income that is received by individuals, households, or classes of income earners.