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Asset turnover is the basis used to assess performance in a company. The results are Sales $40,000 Cost of sales $(15,000) Gross profit $25,000 Expenses

Asset turnover is the basis used to assess performance in a company. The results are

Sales $40,000

Cost of sales $(15,000)

Gross profit $25,000

Expenses ($5,000)

Net Profit $20,000

Capital employed 20,000

What is the turnover?

Select One:

a) 0.5

b) 1.25

c) 1

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