For 2020, Walrus Company Reported Net Revenues, Average Total Assets

question 51

Multiple Choice

For 2020, Walrus Company reported net revenues, average total assets, and net income of $180,000, $24,000, and $100,000 respectively. Walrus Company's asset turnover ratio for 2020 was

• A) 1.8.
• B) 3.8.
• C) 7.5.
• D) 8.0.

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Definitions:

Cars

Wheeled motor vehicles used for transportation, typically powered by an internal combustion engine or electric motors.

Computers

Electronic devices capable of processing, storing, and displaying information, used for a wide range of applications from personal computing to complex scientific calculations.

Opportunity Cost

The charge of overlooking the next most beneficial alternative while making a choice.

Consumer Goods

Goods that are produced and purchased for personal use, satisfying direct consumer wants and needs.