Mathai Company Has Sales of $4,800,000 for the Current Year

question 248

Multiple Choice

Mathai Company has sales of $4,800,000 for the current year. The book value of its fixed assets at the beginning of the year was $1,450,000 and at the end of the year was $1,600,000. The fixed asset turnover ratio for Mathai is

• A) 3.0
• B) 3.1
• C) 3.2
• D) 3.3

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Definitions:

Respondent

A person who answers or responds to something, such as a questionnaire or survey.

Formal Operational

The stage of cognitive development, described by Piaget, occurring from around age 12 and beyond, characterized by the ability to think abstractly, logically, and systematically.

Cognitive Development

The construction of thought processes, including remembering, problem-solving, and decision-making, from childhood through adolescence to adulthood.

Concrete Operational

A stage in Piaget's theory of cognitive development during which children gain the abilities of logical thought about concrete events, understanding conservation, and performing mathematical operations.