Use the Following Information for Questions

question 77

Multiple Choice

Use the following information for questions.
During 2018, Richlieu Corporation reported:
-Richlieu's asset turnover ratio is

• A) 2.5 times.
• B) 1.9 times.
• C) 1.5 times.
• D) 1.3 times.

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Definitions:

Assets

Economic resources owned by a business or individual that are expected to bring future benefits or value.

Cost Method

An accounting method used to value inventory or investments, based on the historical cost paid for the asset.

Voting Stock

Voting stock refers to shares that give the shareholder the right to vote on company matters, such as electing the board of directors.

Debt Securities

Financial instruments representing a loan made by an investor to a borrower, typically including bonds, notes, and bills.