Given the Following Information, Determine Salem Company's Net Fixed Assets

question 31

Multiple Choice

Given the following information, determine Salem Company's net fixed assets. Sales = $10,000,000
Total asset turnover = 4 times
Current ratio = 2.40
Current liabilities = $500,000
Total assets = current assets + fixed assets

• A)$1,200,000
• B)$4,800,000
• C)$1,300,000
• D)Cannot be determined

Recognize the role of government in providing health and pension benefits.

Comprehend the implications of GST/HST on employee benefits.

Understand the concept and types of flexible benefit programs.

Recognize the legislative aspects of employee benefits in Canada.

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