Marino Company Has Provided the Following Information

question 11

Multiple Choice

Marino Company has provided the following information:
Net sales,$480,000
Net income,$24,000
Average total assets,$200,000
What is Marino's asset turnover ratio?

• A)12.0
• B)8.33
• C).42
• D)2.4

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Definitions:

External Control

Mechanisms imposed by external entities, such as regulations or laws, that influence or limit the behavior of organizations or individuals.

Personal Supervision

Direct oversight by an individual, typically a manager or supervisor, over the work and performance of subordinates.

Formal Administrative Systems

Structured processes and procedures used by organizations to manage and govern their operations.

Controlling

The management function that involves monitoring performance, comparing it with goals, and taking corrective action as needed.