Marino Company Has Provided the Following Information: Net Sales,$480,000

question 32

Multiple Choice

Marino Company has provided the following information: Net sales,$480,000
Net income,$24,000
Average total assets,$200,000
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What is Marino's total asset turnover?

• A)12.0
• B)8.33
• C)0.42
• D)2.4

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Definitions:

Incurred Costs

Expenses that have been realized in the course of business operations.

Alternatives

Different options or choices available in a decision-making process.

Traceable

Costs or items that can be directly linked or attributed to a specific product, job, or department, facilitating accurate costing and financial analysis.

Avoidable Cost

A cost that can be eliminated by choosing one alternative over another in a decision. This term is synonymous with differential cost and relevant cost.