Gauntlett Inc. reported the following results from last year's operations:
At the beginning of this year, the company has a $1,300,000 investment opportunity with the following characteristics:

-The turnover for this year's investment opportunity considered alone is closest to:
A) 16.67
B) 0.06
C) 0.28
D) 3.60

Question

Gauntlett Inc. reported the following results from last year's operations:
  At the beginning of this year, the company has a $1,300,000 investment opportunity with the following characteristics:
 
-The turnover for this year's investment opportunity considered alone is closest to:
A) 16.67 
B) 0.06 
C) 0.28 
D) 3.60

Quizplus · Accepted Answer

Turnover = Sales ÷ Average operating assets = $4,680,000 ÷ $1,300,000 = 3.60