The Following Information Is Provided for Nguyen Company and Northwest

question 6

Multiple Choice

The following information is provided for Nguyen Company and Northwest Corporation. $$\begin{array} { l c c } { \text { (in } \$ \text { millions) } } & \text { Nquyen Company } & \text { Northwest Corporation } \\\hline \text { Net income } 2022 & \$ 165 & \$ 420 \\\text { Net sales } 2022 & 1,650 & 4,900 \\\text { Total assets } 12 / 31 / 20 & 1,000 & 2,400 \\\text { Total assets } 12 / 31 / 21 & 1,050 & 3,000 \\\text { Total assets } 12 / 31 / 22 & 1,150 & 4,000\end{array}$$ If Nguyen and Northwest are in the same industry and the industry average for asset turnover is equal to 1.20 times which of the following statements is true?

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Definitions:

English Common Law

A legal system developed in England and used as the basis of jurisprudence in many English-speaking countries, characterized by the doctrine of judicial precedent.

Trespass

An unauthorized intrusion or entering onto someone else's property which infringes on the right of the owner.

Tort

A civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act.

Tortfeasor

One who commits a tort.