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If Sales for 2015 Are $4,000,000 and for 2016 Are

Question 9

Multiple Choice

If sales for 2015 are $4,000,000 and for 2016 are $6,000,000, and total assets at the end of 2015 are $1,000,000 and at the end of 2016 are $2,000,000, the asset turnover period ratio for 2016 is:


A) 91 days.
B) 146 days.
C) 109 days.
D) 1460 days.

Correct Answer:

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