Runyon Inc.reported the following results from last year's operations:
The company's average operating assets were $7,000,000.
Last year's turnover was closest to:
A) 0.42
B) 14.29
C) 0.07
D) 2.40

Name: Runyon Inc.reported the following results from last year's operations: The company's average operating assets were $7,000,000. Last year's turnover was closest to: A) 0.42 B) 14.29 C) 0.07 D) 2.40
Brand: Quizplus
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Question

Runyon Inc.reported the following results from last year's operations:
 The company's average operating assets were $7,000,000.
Last year's turnover was closest to:
A) 0.42 
B) 14.29 
C) 0.07 
D) 2.40

Quizplus · Accepted Answer

Turnover = Sales ÷ Average operating assets = $16,800,000 ÷ $7,000,000 = 2.40