Baad Industries is a division of a major corporation. Last year the division had total sales of $20,440,000, net operating income of $1,860,040, and average operating assets of $7,000,000. The division's turnover is closest to:
A)0.27
B)2.92
C)10.99
D)2.31

Question

Quizplus · Accepted Answer

Turnover is calculated as Total Sales divided by Average Operating Assets. Therefore, $20,440,000 / $7,000,000 = 2.92.

Baad Industries Is a Division of a Major Corporation