The asset turnover ratio measures ________
A) how efficiently a business uses its sales to finance the assets
B) how efficiently a business uses its average total assets to generate sales
C) how efficiently a business uses its net profit to finance the assets
D) how the ending inventory helps increase the value of assets
B
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Jinhai's team was not making much progress on defining a new production process. Maria was being very uncooperative; she did not agree with the direction Jinhai was taking, so she hadn't helped with her part. This team is in what stage of group development?
A. Performing B. Forming C. Adjourning D. Storming E. Norming
Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service
A) Prepaid Rent, debit; Rent Revenue, credit. B) Cash, debit; Unearned Rent, credit. C) Cash, debit; Prepaid Rent, credit. D) Cash, debit; Rent Expense credit.
Dental customers ____________ to avoid delays and ensure effective use of dental professionals' time
a. sit quietly in the waiting room b. commit positive word-of-mouth c. confirm and honor appointments d. should get to know hygienists e. provide accurate histories
On May 31, Cray has $375,800 of accounts receivable. Cray uses the allowance method of accounting for bad debts and has an existing credit balance in the allowance for doubtful accounts of $14,250.1. Prepare journal entries to record the following selected May transactions. The company uses the perpetual inventory system.a. Sold $415,200 of merchandise (that cost $249,000) to customers on credit.b. Received $465,800 cash in payment of accounts receivable.c. Wrote off $15,800 of uncollectible accounts receivable.d. In adjusting the accounts on May 31, its fiscal year-end, the company estimated that 4.0% of accounts receivable will be uncollectible.2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its May 31 balance sheet.
What will be an ideal response?