Review Test Submissi ? Syllabus-201720-SP ×(M Quir10-mtarnoon × connect M Quiz 8

Question

Review Test Submissi ? Syllabus-201720-SP ×(M Quir10-mtarnoon × connect M Quiz 810-mtanno01 Secure https/ Module 9 -Chapter 8 Extra Credt Quiz 2 A total asset turnover ratio of 2.8 indicates that: Multiple Choice 0.5 For every $1 in assets, the firm eamed gross profit of $2.8 during the period. For every $1 in assets, the em earned $2.8 in net income For every $1 in assets, the frm paid $2.8 in expenses during the period For every S5 in sales, the firm acquired $2 n assets during the period For every $1 in assets, the 5rm produced $2 8 in net sales during the peniod

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Total Asset Turnover = 2.80 Turnover /Total Asset = 2.8 Turnover = 2.80 Total Asset i.e. Net Sales = 2.8 times total assets It means If total assets =1 Then Net sales = 2.8 * 1 = 2.8 Thus aswer is   For every $1 in assets , the firm produced $2.8 in net sales during the period

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