A total asset turnover ratio of 4.3 indicates that:

Multiple Choice

• For every $1 in net sales, the firm acquired $4.3 in assets during the period.

• For every $1 in assets, the firm produced $4.3 in net sales during the period.

• For every $1 in assets, the firm earned gross profit of $4.3 during the period.

• For every $1 in assets, the firm earned $4.3 in net income.

• For every $1 in assets, the firm paid $4.3 in expenses during the period.