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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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A fIrm’s asset turnover ratio is typically computed as:

a. Operating Income + Net Sales.

b. Gross Profit + Net Sales.

c. Net Sales Ă· Average Total Assets.

d. Net Income + [(Interest Expense Ă— (1 - Tax Rate)] Ă· Average Total Assets.

To determine

The formula used to compute the firms asset turnover ratio.

Explanation

The formula used to compute the firm’s asset turnover ratio is Net sales/ Average total assets

Asset turnover ratio is used to measure the efficiency of a company’s assets to generate the sales or revenue...

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