Which Financial Statement(s)do You Need to Calculate the Asset Turnover

question 40

Multiple Choice

Which financial statement(s) do you need to calculate the asset turnover ratio?

• A)only the income statement
• B)only the balance sheet
• C)both the income statement and the balance sheet
• D)both the statement of cash flows and the income statement

---

Definitions:

Statutes

Written laws enacted by a legislative body at the federal, state, or local level.

Appraisal Right

A shareholder's right to have their shares independently valued in certain circumstances, such as mergers or acquisitions.

Corporate Assets

Properties, investments, and other resources owned by a corporation that can be used to produce goods, render services, or generate revenue.

Domestic

Pertaining to the internal affairs of a country or the household or family environment.