The Balance Sheet of Sound Designs Reports Total Assets of $750,000

question 81

Multiple Choice

The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year,respectively.Sales revenues are $1.5 million ($1.2 million in the previous year) ,net income is $150,000,and net cash flows from operating activities are $175,000.What is Sound Designs' asset turnover?

• A)2.0 times.
• B)1.7 times.
• C)0.5 times.
• D)1.9 times.

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Definitions:

Conflicts of Interest

Situations where individuals' personal interests might compromise their decision-making or duties.

Ethical Dilemmas

Situations in which a person must choose between two or more conflicting moral principles, making it challenging to decide the right course of action.

Bribe or Kickback

Illegal or unethical payments made to secure advantage or favour in a commercial or official transaction.

Ethical Dilemma

A situation where making a decision involves a conflict between moral imperatives, where to obey one would result in transgressing another.