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Aguilera Industries is a division of a major corporation. Data concerning the most recent year appears below: The division’s turnover is closest to: (Round your answer to 2 decimal places.) 18.18 3.69 0.20 4.92
Expert Answer
Division turnover is equal to Division Sales which is already mentioned in the question.
Hence, it must have been Division Asset Turnover Ratio.
Division Asset Turnover Ratio = [ Turnover or Sales of Division / Asset of Division ]
Turnover or Sales of Division = $ 17,910,000
Asset of Division = Average operating asset of Division = $ 4,850,000
Division Asset Turnover Ratio = [ 17,910,000 / 4,850,000 ] = 3.6928 = 3.69
Division Asset Turnover Ratio = 3.69
Hence, option (b) of 3.69 is correct.
