Gracie Human Resource Consulting Has Total Revenue of $285,400, Cost

question 63

Multiple Choice

Gracie Human Resource Consulting has total revenue of $285,400, cost of goods sold equal to 68 percent of sales, and a profit margin of 9.2 percent.Net fixed assets are $126,400 and current assets are $65,880.What is the total asset turnover rate?

• A)1.01
• B)1.30
• C)1.48
• D)1.84
• E)4.81

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Definitions:

Intended Receivers

Individuals or entities that are the specific target or recipients of a particular message, information, or benefit.

Opinion Letter

A letter expressing a legal assessment or judgment from a lawyer to his or her client, often concerning the legality and details of a transaction.

Completed Audit

A comprehensive examination and verification of an organization's financial and operational systems, which has been fully carried out.

Substantially Performed

A legal principle recognizing that a contract has been completed enough to warrant fulfillment despite minor deviations.