Please Calculate the Asset Turnover Rate If Sales = $18,000,000;

question 94

Multiple Choice

Please calculate the asset turnover rate if sales = $18,000,000; cost of goods sold = $10,000,000; and total assets managed = $10,000,000:

• A) 1.8.
• B) .67.
• C) 1.2.
• D) 1.5.
• E) .83.

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Definitions:

Extrusive Rock

An igneous rock that forms when magma is erupted onto Earth’s surface; synonymous with volcanic rock.

Igneous Rock

Stone generated by the hardening and crystallization of molten rock material.

Bowens Reaction Series

Bowen's Reaction Series describes the sequence in which minerals crystallize from cooling magma according to their chemical composition and temperature.

Crystallize

The process by which a solid forms, where the atoms or molecules are highly structured in a pattern known as a crystal lattice.