TPowers Company's Financial Statements on December 31,2015,showed the Following

question 101

Multiple Choice

T.Powers Company's financial statements on December 31,2015,showed the following:
Net Sales $275,000
Fixed Assets,January 1 $ 73,000
Fixed Assets,December 31 $ 67,000
Total Assets,January 1 $ 97,000
Total Assets,December 31 $100,000
What is the fixed asset turnover for 2015 (rounded to two decimal places) ?

• A) 3.93
• B) 2.60
• C) 4.10
• D) 2.79

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Definitions:

Self-Esteem

The subjective evaluation of one’s own value and worth as an individual.

Agricultural Societies

Communities whose economy and way of life are primarily centered around the cultivation of crops and farming.

Cultural Influence

The impact that a society's values, beliefs, and practices have on individuals' behaviors, attitudes, and perspectives.

Nomadic Societies

Communities that move from place to place rather than settling permanently in one location, often for reasons such as climate, food sources, or cultural traditions.