Verizon Communications Inc. (VZ) is a major telecommunications company in the United States. Two recent balance sheets
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Verizon Communications Inc. (VZ) is a major telecommunications company in the United States. Two recent balance sheets for Verizon disclosed the following information regarding fixed assets:
Verizon’s revenue for the year was $125,980 million. Assume the fixed asset turnover ratio for the telecommunications industry averages approximately 1.1.
a. Determine Verizon’s fixed asset turnover ratio. Round to one decimal place.
b. Interpret this ratio with respect to the industry average
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
Forensic And Investigative Accounting
ISBN: 9780808056300
10th Edition
Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton
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