Company X Has Net Sales Revenue of $1,250,000,cost of Goods

question 96

Multiple Choice

Company X has net sales revenue of $1,250,000,cost of goods sold of $760,000,and all other expenses of $290,000.The beginning balance of shareholders' equity is $400,000 and the beginning balance of fixed assets is $361,000.The ending balance of shareholders' equity is $600,000 and the ending balance of fixed assets is $389,000.What is the fixed asset turnover ratio?

• A)0.53
• B)2.50
• C)3.33
• D)0.80

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Definitions:

Desired Behavior

A specific pattern of action that an individual or group aims to achieve or exhibit.

Nature

The processes within an organism that guide that organism to develop according to its genetic code.

Nurture

The processes external to an organism that nourish it as it develops according to its genetic code or that cause it to swerve from its genetically programmed course. Environmental factors that influence development.

Genes

Fundamental units of heredity that are responsible for guiding the process of creating proteins that, in turn, play critical roles in body functions and development.