The Balance Sheet of Tech Track Reports Total Assets of $400,000

question 108

Multiple Choice

The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year) ,net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?

• A)Better.
• B)Worse.
• C)Same as.

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Definitions:

Outcomes

The possible results or consequences of an action, experiment, or process.

Classical Probability

Classical probability is a theoretical probability calculation based on the assumption that all outcomes are equally likely and there are a finite number of outcomes.

Choosing

The process of making a selection from a range of options or possibilities.

Week

A time unit consisting of seven days.