On January 1, 2011, a Company Has Assets of $16

question 92

Multiple Choice

On January 1, 2011, a company has assets of $16 billion and stockholders' equity of $8 billion. On January 1, 2009, the same company has assets of $20 billion and stockholders' equity of $9 billion. During 2011, the company had total sales revenue of $9 billion and total expenses of $7 billion. The company's asset turnover ratio for 2011 is:

• A) 2.5
• B) 0.5
• C) 0.45
• D) 0.1

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Definitions:

Gastropods

A class of mollusks that includes snails and slugs, characterized by their univalve shell (in snails) and distinctive crawling locomotion.

Hinged Shell

A shell structure composed of two parts connected by a flexible hinge, allowing the shell to open and close, commonly seen in bivalves like clams and oysters.

Bivalves

Aquatic molluscs that have a shell divided into two hinged parts, such as clams, oysters, mussels, and scallops.

Tubular Gut

A digestive system design where the gut forms a continuous tube through which food travels from mouth to anus.