Chambersburg Corp -Refer to the Information for Chambersburg Corp

question 164

Multiple Choice

Chambersburg Corp.
The following information is for Chambersburg Corp.for 2018 and 2017.Chambersburg uses the straight-line depreciation method.
$$\begin{array} { l r r } & \underline { \mathbf { 2 0 1 8 } } & \underline { \mathbf { 2 0 1 7 } } \\\text { Property, plant, and equipment } & \$ 250,000 & \$ 190,000 \\\text { Accumulated depreciation } & 100,000 & 85,000 \\ \text { Depreciation expense } & 62,500 & 47,500 \\\text { Net sales } & 1,000,000 & 900,000 \\\text { Average total assets }& 625,000 & 475,000\end{array}$$
-Refer to the information for Chambersburg Corp. ?
What is the asset turnover ratio for Chambersburg for 2018?

• A)1.60 times
• B)1.82 times
• C)4.00 times
• D)4.55 times

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Definitions:

Deterrent

A factor, condition, or threat that discourages individuals from engaging in particular behaviors, often used in the context of crime prevention.

Sociologists

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Psychological Abnormality

involves patterns of thought, emotion, or behavior that are deviant, distressing, and dysfunctional, and diverge significantly from societal norms.