Last year the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth?
A) 9.5
B) 10.2
C) 9.8
D) 9.2

Question

Quizplus · Accepted Answer

The company's turnover is calculated as Sales divided by Average Operating Assets. Average Operating Assets = ($84,000 + $90,000) / 2 = $87,000. Turnover = $826,650 / $87,000 = 9.5.

Last Year the House of Orange Had Sales of $826,650