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Question
Kermit calculated his total asset turnover to be 1.13. This tells Kermit that:
a. every dollar of assets generates $1.13 in sales.
b. every dollar of sales costs Kermit $1.13 to generate.
c. every year he turns his inventory 1.13 times.
d. every dollar of assets generates $1.13 in profits.
Answer
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