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Determine the Dollar Amount of Total Assets for a Venture

Question 20

Multiple Choice

Determine the dollar amount of total assets for a venture with the following financial information: revenues = $500,000; net profit = $70,000; and asset turnover = 2.00 times.


A) $100,000
B) $250,000
C) $375,000
D) $500,000
E) $650,000

Correct Answer:

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