Rockport Company Reports the Following in Millions: Net Sales of $25,355

question 58

Essay

Rockport Company reports the following in millions: net sales of $25,355 for 2011 and $22,340 for 2010; end-of-year total assets of $15,875 for 2011 and $13,860 for 2010. Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

---

Definitions:

Creative

The capacity to generate novel and unique concepts, or to create something innovative or creative.

Intellectual

Relating to the ability to think and understand ideas and information on a complex level.

Alfred Binet

A French psychologist who, with Theodore Simon, developed the first practical intelligence test in the early 20th century, laying the foundation for modern intelligence testing.

Pragmatic Approach

A practical, realistic way of solving problems or approaching situations based on the current circumstances rather than on fixed theories or rules.