Fixed Asset Turnover Is What Type of Financial Ratio

question 16

Multiple Choice

Fixed asset turnover is what type of financial ratio?

• A)liquidity ratio
• B)profitability ratio
• C)activity ratio
• D)leverage ratio
• E)revenue ratio

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Definitions:

Salaries Payable

An account that records amounts owed to employees for work performed but not yet paid, a liability on the balance sheet.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous accounting period.

Accounting Period

A specific time period for which financial information is reported, typically a year, quarter, or month.

Transracial Adoptions

The adoption of a child that is of a different race or ethnic background from the adoptive parents, highlighting the diversity within families.