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:

-Last year's turnover was closest to:
A) 0.08
B) 0.42
C) 12.50
D) 2.40

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:
 
-Last year's turnover was closest to:
A) 0.08 
B) 0.42 
C) 12.50 
D) 2.40

Quizplus · Accepted Answer

Turnover = Sales ÷ Average operating assets = $12,000,000 ÷ $5,000,000 = 2.40