Maple Corp

question 26

Multiple Choice

Maple Corp.had net sales of $201,550 for the year ended December 31,2017.Its beginning and ending total assets were $88,200 and $112,500,respectively.Determine Maple's asset turnover ratio for the year ended December 31,2017.

• A)0.5 times
• B)2.29 times
• C)1.11 times
• D)2.01 times

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Definitions:

Past Costs

Refers to expenses that have already occurred and cannot be recovered.

Marginal Costs

The supplementary cost that comes with producing an extra unit of a good or service.

Mass Affordability

The widespread ability of the average consumer to purchase goods and services, often due to lower prices or increased income levels.