The Balance Sheet of Tech Track Reports Total Assets of $400,000

question 30

Multiple Choice

The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year) ,net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?

• A) Better.
• B) Worse.
• C) Same as.
• D) Cannot be determined with the data provided.

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Definitions:

NAACP

The National Association for the Advancement of Colored People, a civil rights organization founded in 1909 to fight prejudice, lynching, and Jim Crow segregation.

Bull Moose

Refers to the Progressive Party of 1912 in the United States, symbolized by a bull moose, led by Theodore Roosevelt after a split in the Republican Party.

Progressive Republicans

A faction within the Republican Party in the early 20th century that advocated for reforms including anti-corruption measures, environmental conservation, and worker's rights.

African-American

A term referring to citizens or residents of the United States who have total or partial ancestry from any of the black racial groups of Africa.