Net Sales Divided by Average Total Assets Is The

question 180

Multiple Choice

Net sales divided by average total assets is the:

• A) Profit margin.
• B) Total asset turnover.
• C) Current ratio.
• D) Sales return ratio.
• E) Return on total assets.

---

Definitions:

Raw Materials Inventory

The goods and materials that a company holds that are intended for use in the production process.

Raw Materials Purchased

The total cost of raw materials bought by a company for use in production during a specific time period.

Job Order Cost Sheet

A record maintained for each job in a job order costing system, detailing the materials, labor, and overhead costs incurred.

Internal Control

Processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.