A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover equals:
A) 0.82.
B) 0.90.
C) 1.09.
D) 1.11.
E) 1.26.

Name: A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover equals: A) 0.82. B) 0.90. C) 1.09. D) 1.11. E) 1.26.
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Question

Quizplus · Accepted Answer

Total asset turnover = Net sales / Average total assets = $1,000,000 / $897,000 = 1.11

A Company Had Average Total Assets of $897,000