The Asset Turnover Ratio (ATR)for Jovial Inc

question 7

Multiple Choice

The asset turnover ratio (ATR) for Jovial Inc.has evolved as follows over the past three years:
ATR(Y-3) = 200% ATR(Y-2) = 190% ATR(Y-1) = 180%

• A) New assets are acquired for the same amount as the annual depreciation expense.
• B) Sales revenue grew at a rate that is more rapid than the rate of growth of net assets.
• C) Assets are being used more efficiently over time.
• D) Assets are being used less efficiently over time.

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