The Broadest Indicator of Efficiency Is

question 9

Multiple Choice

The broadest indicator of efficiency is:

• A) return on sales.
• B) return on assets
• C) inventory turnover
• D) collection period.

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Definitions:

Documentation

The process of creating, compiling, and maintaining records and detailed information.

Partnership

A lawful business structure involving two or more people who jointly manage and share the earnings.

Financial Accounting Standards Board

An independent organization responsible for establishing and improving financial accounting standards in the United States.

Generally Accepted Accounting Principles

The standard framework of guidelines for financial accounting used in any given jurisdiction.