Net Sales Are $6,000,000, Beginning Total Assets Are $2,800,000, and the Asset

question 177

Multiple Choice

Net sales are $6,000,000, beginning total assets are $2,800,000, and the asset turnover is 2.0 times. What is the ending total asset balance?

• A) $3,000,000
• B) $3,200,000
• C) $2,800,000
• D) $2,200,000

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Definitions:

Brainstorming

A creative group activity designed to generate a large number of ideas for the solution to a problem.

Constructive Conflict

Disagreements that are expressed in a positive, cooperative manner leading to productive resolutions and fostering innovation.

Task Interdependence

Describes the extent to which tasks in an organization require coordination and cooperation among individuals or teams to complete.

Groupthink

Is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.