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