Hangover Pills, Inc. has current assets of $70,000 and net fixed assets of $400,000. Thefirm's sales are $800,000. All assets are classified as being either "current assets" or"fixed assets." What is Hangover's total asset turnover?

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A: Asset turnover ratio = Sales/Average total assets Return on average assets = Net income/Average…

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Q: The asset turnover ratio is (round answer to 2 decimal places)

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A: Inventory Inventory can be described as a good or material that a company holds for the purpose of…

Q: expense

A: Formula for calculating the fixed assets turnover ratio is: Fixed assets turnover ratio = Net…

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Q: Hangover Pills, Inc. has current assets of $70,000 and net fixed assets of $400,000. The firm's…

A: The formula to compute asset turnover ratio as follows: Asset turnover=SalesTotal assets

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A: INTANGIBLE ASSETS ARE ASSETS WHICH HAVE NO PHYSICAL SUBSTANCE AND CANNOT BE SEEN AND TOUCHED.

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A: The answer is option (1) [i.e, 1.82 times] Refer step2 for explanation.

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