Carducci Corporation reported Net sales of $3.6 million and average Total assets of $1.1 million.The Total asset turnover is:
A)0.31 times.
B)3.27 times.
C)4.30 times.
D)2.27 times.
E)0.77 times.

Name: Carducci Corporation reported Net sales of $3.6 million and average Total assets of $1.1 million.The Total asset turnover is: A)0.31 times. B)3.27 times. C)4.30 times. D)2.27 times. E)0.77 times.
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Question

Quizplus · Accepted Answer

Total asset turnover = Net sales / Average total assets= $3.6 million / $1.1 million= 3.27 times

Carducci Corporation Reported Net Sales of $3