Elegant Operators Has Net Sales in the Amount of $622,000

question 59

Multiple Choice

Elegant Operators has net sales in the amount of $622,000, a cash amount of $333,000, and accounts receivables of $50,000. What is the asset turnover ratio?

• A) 12.44 times
• B) 1.87 times
• C) 1.62 times
• D) 0.08 times

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Definitions:

Accumulating

The process of gathering or amassing over a period of time.

Allocating

The process of apportioning costs or resources among departments, activities, or products.

Receiving Report

The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.

Purchased Materials

Raw materials and components that are bought by a company from external suppliers for use in the production process.