During 2014, Ronald Corporation Reported Net Sales of $1,500,000, Net

question 185

Multiple Choice

During 2014, Ronald Corporation reported net sales of $1,500,000, net income of $900,000, and depreciation expense of $100,000. Ronald also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $800,000, and accumulated depreciation of $500,000. Ronald's asset turnover ratio is

• A) 1.5 times.
• B) 1.2 times.
• C) 0.98 times.
• D) 0.72 times.

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Definitions:

Multicultural Teams

Work groups composed of members from diverse cultural backgrounds, bringing different perspectives and solutions to the team.

Corporate Social Responsibility

A business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.

Triple Bottom Line

Triple bottom line is a framework or theory that broadens a business's focus on the financial bottom line to include social and environmental considerations.

Stakeholders

Individuals or groups that have an interest or concern in an organization's activities and outcomes.