What is the asset turnover ratio for 2012?
A) 1.30
B) 7.50
C) 2.60
D) 9.75

Name: What is the asset turnover ratio for 2012? A) 1.30 B) 7.50 C) 2.60 D) 9.75
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Question

Quizplus · Accepted Answer

The asset turnover ratio is calculated by dividing net sales by average total assets. In 2012, net sales were $13,000,000 and average total assets were $10,000,000. Therefore, the asset turnover ratio for 2012 is $13,000,000 / $10,000,000 = 1.30.

What Is the Asset Turnover Ratio for 2012