The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate the asset turnover ratio for 2010.
A)1.45 times
B)0.375 times
C)1.10 times
D)The answer cannot be determined from the information given.

Question

The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate the asset turnover ratio for 2010.
A)1.45 times 
B)0.375 times 
C)1.10 times 
D)The answer cannot be determined from the information given.

Quizplus · Accepted Answer

The asset turnover ratio requires information on sales (or revenue) and total assets. Since the question does not provide specific figures from Acme's annual report for these variables, the ratio cannot be calculated.

The Following Selected Information Is from Acme's Annual Report for the Years