Use the information below to answer the following question(s):
Selected financial data for The Plastic Lumber Company's Outdoor Furniture Division is as follows:

-What is The Plastic Lumber Company's Outdoor Furniture Division asset turnover?
A) 2.0
B) 2.5
C) 5.0
D) 10.5

Question

Use the information below to answer the following question(s):
Selected financial data for The Plastic Lumber Company's Outdoor Furniture Division is as follows:
 
-What is The Plastic Lumber Company's Outdoor Furniture Division asset turnover?
A) 2.0 
B) 2.5 
C) 5.0 
D) 10.5

Quizplus · Accepted Answer

Asset turnover is calculated by dividing sales by average total assets. If the division's sales are $10,000 and average total assets are $5,000, the asset turnover would be 2.0.

Use the Information Below to Answer the Following Question(s)