Use the Following Information to Answer Questions 28 and 29

question 71

Multiple Choice

Use the following information to answer questions 28 and 29.
Kestal Ltd reported sales of $500 000 for the year ending 31 December. The net profit before interest and tax was $120 000, and the net profit after tax was $90 000. The average of total assets was
$1 000 000. The average shareholders' equity was $700 000.
-What is the asset turnover for the year ending 31 December?

• A) 2
• B) 0.5
• C) 0.7
• D) 11.11

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Definitions:

William McKinley

25th President of the United States, led during the Spanish-American War, assassinated in 1901.

William Jennings Bryan

William Jennings Bryan was an American orator and politician from the late 19th and early 20th centuries, known for his advocacy of populism, free silver, and as a three-time Democratic presidential nominee.

Fourteenth Amendment

The Fourteenth Amendment to the United States Constitution granted citizenship to all persons "born or naturalized in the United States," including former slaves, and provided all citizens with “equal protection under the laws.”

Southern African Americans

Individuals of African descent primarily residing in the Southern United States, historically facing significant racial discrimination and socio-economic challenges.