A Company Had Average Total Assets of $897,000

question 204

Multiple Choice

A company had average total assets of $897,000.Its gross sales were $1,090,000 and its net sales were $1,000,000.The company's total asset turnover is equal to:

• A)0.82
• B)0.90
• C)1.09
• D)1.11
• E)1.26

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Definitions:

Lifetime Appointments

Positions or roles where the appointee serves for their entire life, commonly seen in judicial appointments to ensure independence.

Principal Place of Business

The primary location where a business entity's central operations and management are conducted.

Business Name

The official name under which a company or merchant conducts business, which may be different from its legal corporate name.

Ultra Vires Acts

Acts performed beyond the powers or authority granted to a corporation or an individual by law.