Question: 1 . The fixed asset turnover ratio is computed as _ _ _ _ _ _ _ _ _ _ divided by _ _ _

1.The fixed asset turnover ratio is computed as __________ divided by __________.
a. sales; average book value of fixed assets
b. net income; average book value of fixed assets
c. sales; book value of fixed assets
d. average book value of fixed assets; sales
abcd
2.Financial statement data for the year ending December 31 for Navajo Company follow:
Line Item DescriptionAmountSales$2,550,000Net income1,258,000Fixed assets (net):Beginning of year800,000End of year985,000
The fixed asset turnover ratio for Navajo Company on December 31 would be
a.2.9.
b.2.6.
c.1.4.
d.1.9.

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