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21 September, 14:49

Arshadi Corp.'s sales last year were $52,000, and its total assets were $22,000. What was its total assets turnover ratio (TATO) ?

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  1. 21 September, 15:01
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    The correct answer is 2.36 times.

    Explanation:

    According to the scenario, Given data are as follows:

    Total sales (turnover) = $52,000

    Total assets = $22,000

    So, Total assets turnover ratio (TATO) can be calculated as follows:

    Total Assets Turnover Ratio = Turnover / Total assets

    TATO = $52,000 / $22,000

    TATO = 2.36 times.

    Hence, the correct answer is 2.36 times.
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