Selected Current Year Company Information Follows The Total Asset Turnover Is:
A)2

question 146

Multiple Choice

Selected current year company information follows: $$\begin{array} { l | r } \text { Net income } & \$ 15,953 \\\hline \text { Net sales } & 712,855 \\\hline \text { Total liabilities, beginning-year } & 83,932 \\\hline \text { Total liabilities, end-of-year } & 103,201 \\\hline \text { Total stockholders' equity, beginning-year.... } & 198,935 \\\hline \text { Total stockholders' equity, end-of-year } & 121,851\end{array}$$ The total asset turnover is:

• A)2.81 times
• B)6.28 times
• C)3.64 times
• D)2.24 times
• E)4.67 times

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Definitions:

Unaudited

Describes financial statements or reports that have not undergone a formal examination and verification process by an external auditor.

Quarterly Financial Statements

Financial reports that are issued after every three months by a corporation, providing a snapshot of its financial health.

Securities & Exchange Commission

A federal agency in the United States tasked with overseeing the securities markets and safeguarding the interests of investors.

Internal Auditors

Professionals who conduct audits within an organization to evaluate its various operations and controls for efficiency and compliance.