If a Firm Has an Asset Turnover Ratio of 2

question 101

True/False

If a firm has an asset turnover ratio of 2.00,it means that it needs $2 in assets to generate a $1 in sales.

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Definitions:

Crown

A term used in legal contexts to denote authority and power of the state, or the monarch in countries with a monarchy.

Mineral Rights

Legal rights or ownership interests pertaining to the minerals beneath the surface of a piece of land, including the right to explore, mine, and produce those minerals.

Tangible Personal Property

Physical items or goods owned by an individual, excluding real estate.

Fixture

A thing attached to land or to a building or to another fixture attached to the land.