A company reports the following: Sales ....................................................................................................$6,750,000 Average total assets (excluding long-term investments)....................... 2,500,000 Determine the asset
Question:
A company reports the following:
Sales ....................................................................................................$6,750,000
Average total assets (excluding long-term investments)....................... 2,500,000
Determine the asset turnover ratio. Round to one decimal place.
Asset TurnoverAsset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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