66) A total asset turnover ratio of 4.0 indicates that:

A) For every $1 in assets, the firm produced $4.0 in net sales during the period.

B) For every $1 in assets, the firm earned $4.0 in net income.

C) For every $1 in assets, the firm earned gross profit of $4.0 during the period.

D) For every $1 in sales, the firm acquired $4.0 in assets during the period.

E) For every $1 in assets, the firm paid $4.0 in expenses during the period