Nerf Mania reports net income of $500,000,net sales of $4,000,000,and average assets of $2,000,000.The asset turnover is:
A)0.25 times.
B)0.5 times.
C)2 times.
D)8 times.

Name: Nerf Mania reports net income of $500,000,net sales of $4,000,000,and average assets of $2,000,000.The asset turnover is: A)0.25 times. B)0.5 times. C)2 times. D)8 times.
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Question

Quizplus · Accepted Answer

Asset turnover = Net sales / Average assets
Asset turnover = $4,000,000 / $2,000,000
Asset turnover = 2 times

Nerf Mania Reports Net Income of $500,000,net Sales of $4,000,000,and