Would an accounting firm be characterized by (a) A high asset turnover and low profit margin, or (b) A low asset turnover and high profit margin What about a company that operated a chain of grocery stores ...

a Accounting firms like any professional services firm do not need a significant amount on longlived ...

Would an accounting firm be characterized by (a) A high asset turnover and low profit margin, or

Question:

Would an accounting firm be characterized by
(a) A high and low profit margin, or
(b) A low and high profit margin? What about a company that operated a chain of grocery stores?
Asset Turnover
Asset 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.