The Asset Turnover Ratio Equals

question 11

Multiple Choice

The asset turnover ratio equals

• A) net sales divided by average total assets.
• B) average total assets divided by net income.
• C) average total assets divided by total liabilities.
• D) net income divided by average total assets.

---

Definitions:

Lower-middle Class

Refers to a social group that is between the working class and the middle class, often characterized by moderate income levels, some post-secondary education, and white-collar or skilled blue-collar jobs.

Blue Collar

A description characterizing skilled and semi-skilled workers who perform manual labor or work in service or clerical jobs.

Upper Class

An elite and largely self-sustaining group who possess most of the country’s wealth; they constitute about 1 percent of the U.S. population.

Caste System

A form of social stratification in which status is determined by one’s family history and background and cannot be changed.