The Balance Sheet of Paradise Pizza Reports Total Assets of $1,500,000

question 113

Multiple Choice

The balance sheet of Paradise Pizza reports total assets of $1,500,000 and $1,700,000 at the beginning and end of the year,respectively.Net income and sales for the year are $240,000 and $2,000,000,respectively.What is Paradise Pizza's asset turnover?

• A)1.25 times.
• B)1.33 times.
• C)8.33 times.

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Definitions:

Counterfeiters

Individuals or entities that produce unauthorized replicas of copyrighted or trademarked products, often of inferior quality, to sell for profit.

Co-branded

involves a partnership between two or more brands to create a product or service that leverages the strengths and market appeal of all parties involved.

Cultural Innovation

The introduction of new ideas, products, or ways of doing things that significantly alter cultural practices and norms.

Local Market Adaptations

Adjustments made to products, services, or marketing strategies to suit the specific preferences and requirements of local markets or regions.