Net Sales Are $2,700,000, Beginning Total Assets Are $700,000, and the Asset

question 266

Multiple Choice

Net sales are $2,700,000, beginning total assets are $700,000, and the asset turnover is 3.0. What is the ending total asset balance?

• A) $900,000
• B) $1,100,000
• C) $700,000
• D) $800,000

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Definitions:

Cultural Personality

Refers to the aggregate patterns of traits and characteristics observed in individuals within a specific cultural group, influenced by societal norms and values.

Power Distance

A cultural dimension that describes the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Big Five Traits

A model in psychology that outlines five broad dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Agreeableness

The emotional style of a person that may range from easygoing, friendly, and likable to grumpy, crabby, and unpleasant.