23. Which of the following is a correct interpretation of a total asset turnover of 3.0?

A) For each $1 of sales generated by the firm it requires $3 in assets.

B) For each $1 of assets owned by the firm it generates $3 in sales.

C) For each $3 of sales, the firm makes $1 in net profit after taxes.

D) The firm completely replenishes its total assets 3 times per year.

E) The firm completely replenishes its total assets every 3.0 years .