
Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Question
What is the total asset turnover rate for these financial accounting question?

Transcribed Image Text:Hawkline Enterprises has total sales of $368,500, a cost
of goods sold of $214,700, a net profit of $17,900, net
fixed assets of $185,400, and current assets of $121,300.
What is the total asset turnover rate?
a) 1.72
b) 1.45
c) 1.20
d) 1.49
e) 1.56
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