Use the Information Presented Below for Chambersburg Corp ​
-Refer to the Information for Chambersburg Corp

question 174

Multiple Choice

Use the information presented below for Chambersburg Corp.for 2017 and 2016 to answer the questions that follow.Chambersburg uses the straight-line depreciation method. $\begin{array}{lrr}&\mathbf{2 0 1 7} & \mathbf{2 0 1 6} \\\text { Property, plant, and equipment }&\$ 250,000 & \$ 190,000 \\\text {Accumulated depreciation }&100,000 & 85,000 \\\text { Depreciation expense }&62,500 & 47,500 \\\text { Net sales }&1,000,000 & 900,000 \\\text { Average Total assets }&625,000 & 475,000\\\end{array}$ ​
-Refer to the information for Chambersburg Corp. ?
What is the asset turnover ratio for Chambersburg for 2017?

• A) 1.60 times
• B) 1.82 times
• C) 4.00 times
• D) 4.55 times

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Definitions:

Package Sizes

The dimensions or amount of product contained within a package, affecting consumer choices and inventory management.

Framing Effects

The influence on decision making prompted by the way information is presented, rather than just the information itself.

Self-Serving Bias

The common human tendency to attribute positive events to one's own character but attribute negative events to external factors.

Endowment Effect

The tendency people have to place higher valuations on items they possess (are endowed with) than on identical items that they do not possess; perhaps caused by loss aversion.