Net Sales Are $3,250,000, Beginning Total Assets Are $1,400,000, and the Asset

question 209

Multiple Choice

Net sales are $3,250,000, beginning total assets are $1,400,000, and the asset turnover is 2.5 times. What is the ending total asset balance?

• A) $1,300,000
• B) $1,200,000
• C) $1,400,000
• D) $1,500,000

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Definitions:

Three-step Writing Process

A method of writing that includes planning, drafting, and revising/editing.

Design

The process of creating and planning the aesthetic and functional aspects of a product, structure, or system.

Planning Phase

The initial stage in a project or process where objectives are defined, and strategies are developed to achieve them.

Three-step Writing Process

A method consisting of planning, writing, and completing to efficiently create written communications.