Assume the Following Data: Sales = 3,200; Cost of Goods

question 29

Multiple Choice

Assume the following data: Sales = 3,200; Cost of goods sold = 1,600; Total assets = 1,600; Inventory = 200.Calculate the asset turnover ratio.

• A)2
• B)0.94
• C)1.33
• D)1

Understand the key financial statements and their significance.

Recognize the principal types of business activities.

Distinguish between internal and external users of accounting information.

Grasp the concept of net income and its calculation.

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Definitions:

Amino Acid

Organic molecule composed of an amino group and an acid group; covalently bonds to produce peptide molecules.

DNA Sequence

The order of nucleotides in a segment of DNA, determining genetic information.

Active Genes

Sections of DNA that are being transcribed and translated into proteins, influencing the traits of an organism.

Heterochromatin

A tightly packed form of DNA, which is transcriptionally inactive, aiding in maintaining the DNA's structural integrity.