Net Sales Are $6,000,000, Beginning Total Assets Are $2,800,000, and the Asset

question 177

Multiple Choice

Net sales are $6,000,000, beginning total assets are $2,800,000, and the asset turnover is 2.0 times. What is the ending total asset balance?

• A) $3,000,000
• B) $3,200,000
• C) $2,800,000
• D) $2,200,000

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Definitions:

Mathematical Algorithm

A finite sequence of well-defined instructions typically used to solve a class of specific problems or to perform a computation.

Expert Demand Forecast

A projection or estimation of future demand for goods or services based on analyses conducted by experts in the field.

Forecasting Methods

Techniques utilized to predict future events or trends, including sales, economic conditions, and consumer behavior predictions.

Ratio Analysis

A quantitative analysis of information contained in a company’s financial statements, used to evaluate the overall financial condition and performance of a business.