Homework Answers
Total asset turnover ratio = Annual Sales/Total asset
The total asset turnover ratio calculates net annual sales divided by total assets and shows that how many sales are generated from each dollar of company’s assets.
If a firm’s total asset turnover ratio is 2; then
2 = Annual Sales/Total asset
Or Annual Sales = 2* total assets
It means that its annual sales are two times of its total assets
Therefore correct answer is option d. its annual sales are two times of its total assets
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