Baker Inc Had Reported the Following Details for the Year Ended

question 46

Multiple Choice

Baker Inc. had reported the following details for the year ended December 31, 2012: The company's beginning total assets and liabilities were $14,000,000 and $8,000,000, respectively. Calculate the asset turnover ratio for 2012.

• A)1.95 times
• B)1.24 times
• C)1.44 times
• D)1.65 times

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Definitions:

1937-1938

A period marked by a sharp economic downturn in the United States, considered a recession within the Great Depression era.

American Revolution

The period of political and military action (1775-1783) during which the thirteen American colonies won independence from Great Britain, leading to the establishment of the United States of America.

Labor

The work performed by individuals that contributes to the production of goods and services, typically rewarded with wages.

Capital

Financial assets or the financial value of assets, such as cash and securities, or fixed assets like machinery and buildings, used in producing goods and services.