Cambria Company Reports Net Sales of $4,315 Million; Cost of Goods

question 28

Multiple Choice

Cambria Company reports net sales of $4,315 million; cost of goods sold of $2,808 million; net income of $283 million; and average total assets of $2,136. Compute its total asset turnover.

• A) 1.31.
• B) 2.02.
• C) 13.
• D) 76.
• E) 50.

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Definitions:

Directors

Individuals appointed to oversee the activities and manage the affairs of a company.

Officers

Individuals appointed to manage day-to-day activities and make executive decisions in a corporation, such as CEOs, CFOs, and COOs.

Corporate Liability

The legal concept that a corporation, separate from its associated individuals, can be held accountable for its actions and responsibilities.

Cable Shipping Ltd.

Appears to be the name of a specific company rather than a recognized key term. NO.