The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year,respectively.Sales revenues are $1.5 million ($1.2 million in the previous year),net income is $150,000,and net cash flows from operating activities are $175,000.What is Sound Designs' asset turnover?
A) 2.0 times.
B) 1.7 times.
C) 0.5 times.
D) 1.9 times.

Question

The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year,respectively.Sales revenues are $1.5 million ($1.2 million in the previous year),net income is $150,000,and net cash flows from operating activities are $175,000.What is Sound Designs' asset turnover?
A)	2.0 times.
B)	1.7 times.
C)	0.5 times.
D)	1.9 times.

Quizplus · Accepted Answer

The Answer of The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year,respectively.Sales revenues are $1.5 million ($1.2 million in the previous year),net income is $150,000,and net cash flows from operating activities are $175,000.What is Sound Designs' asset turnover?
A)	2.0 times.
B)	1.7 times.
C)	0.5 times.
D)	1.9 times.

The Balance Sheet of Sound Designs Reports Total Assets of $750,000