Mehring Company Reported Net Sales of $540,000, Net Income of $72,000

question 53

Multiple Choice

Mehring Company reported net sales of $540,000, net income of $72,000, beginning total assets of $240,000, and ending total assets of $360,000.What was the company's asset turnover?

• A)2.3 times
• B)0.6 times
• C)1.8 times
• D)1.5 times

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Definitions:

Response Prevention

A behavioral treatment technique, particularly used in treating OCD, where the patient is prevented from performing a compulsive behavior.

Systematic Desensitization

A behavioral therapy technique used to reduce phobic responses or anxiety through gradual exposure to the feared object or situation coupled with relaxation exercises.

Anxiety

A sensation of apprehension or fear, often about something that is going to happen soon or an outcome that is not yet clear.

Learned Response

Behaviors developed through experience or conditioning, as opposed to innate or instinctual reactions.