Answer:
It is 0.98
Explanation:
Total Assets Turnover Ratio(TATR) = <u> Net Sales </u>
Average Total Assets
Net Assets =Gross Sales-Trade discounts-Sales tax-Sales return
TATR = 940,000/955,000 = 0.98 times
It is the ratio of a company's net sales to its average assets employed.
It is a ratio that tells how efficient the company is using its assets to generate its revenue.
The drawback of this ratio is that, if the divisional manager performance is based on this, it may sometimes leads to short-term view of performance. This may then encourage dysfunctional behaviour which may include refusal to replace an old assets with lower based value which when replace may reduce this ratio because of the higher based value of the new assets while sales still remain the same
The correct answer is; October 1st and September 30th.
Further Explanation:
There are approximately 3 types of fiscal years. They are;
- Business
- Federal
- Non-profit
The federal fiscal year always starts on October 1st and will end on September 30th the following year. These are divided into four quarters each year. This will cover a 12 month calendar year.
A fiscal year can contain 365 or 366 days depending if there is a leap year. This is used as a starting place to start commencing your record keeping in order and when to conclude for the year.
When keeping financial records numerous things needs to be kept for the following year. Some of the things that needs to be kept are; precise records, receipts, contracts, check stubs, and the budget used.
Learn more about the fiscal year at brainly.com/question/13648773
#LearnwithBrainly
