The calculation of total asset turnover is:
A. Gross profit divided by average total assets.
B. Average total assets divided by gross profit.
C. Average total assets multiplied by net sales.
D. Net sales divided by average total assets.
E. Net assets multiplied by total assets.
Answer: D
You might also like to view...
If a shock raises inflation, how fast should the central bank reduce it to its target level?
What will be an ideal response?
Benjamin Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per MonthVariable Element per Container RefurbishedRevenue $5,400Employee salaries and wages$58,300 $1,000Refurbishing materials $700Other expenses$31,200 When the company prepared its planning budget at the beginning of March, it assumed that 26 containers would have been refurbished. However, 23 containers were actually refurbished during March.The amount shown for total expenses in the planning budget for March would have been closest to:
A. $128,600 B. $133,700 C. $143,226 D. $126,700
For a construction firm using the completed-contract method, if costs exceed billings on some contracts by $1,000,000 and billings exceed costs by $800,000 on others, the contracts should ordinarily be reported as a
a. current asset of $200,000. b. current liability of $200,000. c. current asset of $1,000,000 less a contra-current asset of $800,000. d. current asset of $1,000,000 and a current liability of $800,000.
The Big 5 personality trait that has been consistently shown to have a particularly strong relationship with self-leadership is:
a. conscientiousness b. extraversion c. openness to experience d. agreeableness