Selected data from the financial statements are provided below:

-Refer to Rent-a-Center. What is the company's asset turnover ratio for 2020?
A)0.73
B)0.95
C)1.3
D)2.4

Question

Selected data from the financial statements are provided below:
 
-Refer to Rent-a-Center. What is the company's asset turnover ratio for 2020?
A)0.73 
B)0.95 
C)1.3 
D)2.4

Quizplus · Accepted Answer

Asset turnover ratio = Revenue / Total Assets
For Rent-a-Center in 2020, 
Asset turnover ratio = 2,678,827 / 2,821,365 = 0.95. 
Therefore, option B (0.95) is the correct answer.

Selected Data from the Financial Statements Are Provided Below