Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios. Cash flow from operating expenses for Layton Novelties is $32,400.
The asset turnover of Layton Novelties is
A) 2.5 times
B) 1.5 times.
C) .667 times.
D) .18 times

Question

Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios.    Cash flow from operating expenses for Layton Novelties is $32,400.
The asset turnover of Layton Novelties is
A) 2.5 times 
B) 1.5 times. 
C) .667 times. 
D) .18 times

Quizplus · Accepted Answer

The Answer of Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios.    Cash flow from operating expenses for Layton Novelties is $32,400.
The asset turnover of Layton Novelties is
A) 2.5 times 
B) 1.5 times. 
C) .667 times. 
D) .18 times

Use the Following Information for the First Year of Operations