On January 1, 2012 Hillop Inc

question 30

Multiple Choice

On January 1, 2012 Hillop Inc. had total assets of $360,000. During the year, the company purchased new machinery worth $80,000 and promised to pay the amount due after two years. Throughout the year, it earned revenue of $50,000 every month. Calculate the asset turnover ratio.

• A)1.2 times
• B)1.8 times
• C)1.5 times
• D)1.4 times

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Definitions:

Transporting Oxygen

The primary function of the respiratory and circulatory systems, allowing oxygen to be inhaled into the lungs, carried by red blood cells, and delivered to tissue.

Tissue Cells

The basic structural and functional units of tissues in living organisms, varying widely in structure and function based on their location and task.

Coagulation

The process of blood changing from a liquid to a gel, forming a blood clot, which is an essential part of hemostasis to stop bleeding.

Agglutination

The clumping together of particles, typically cells or proteins, often caused by an antigen-antibody reaction.