A Company Had Average Total Assets of $887,000

question 120

Multiple Choice

A company had average total assets of $887,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover equals:

• A) 1.23.
• B) 1.09.
• C) 1.13.
• D) 0.81.
• E) 0.89.

---

Definitions:

Citizens United

A landmark U.S. Supreme Court case that ruled the First Amendment prohibits government from restricting independent political expenditures by corporations and unions.

SuperPACs

Political action committees that can raise and spend unlimited amounts of money from corporations, individuals, and unions to advocate for or against political candidates, but are prohibited from directly coordinating with the campaigns they support.

Nonprofit Organization

An organization that is dedicated to furthering a particular social cause or advocating for a shared point of view, and does not distribute its surplus funds to owners or shareholders.

Political Campaign Ads

Advertisements sponsored by political candidates or parties aimed to influence the public's voting decisions during electoral campaigns.