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Determine the dollar amount of total assets for a venture with the following financial information: revenues = $750,000; net profit = $70,000; and asset turnover
Determine the dollar amount of total assets for a venture with the following financial information: revenues = $750,000; net profit = $70,000; and asset turnover = 2.50 times.
| a | $140,000 | |
| b | $250,000 | |
| c | $300,000 | |
| d | $500,000 | |
| e | $1,000,000 |
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Audit Guide Audit Sampling
Authors: AICPA
2nd Edition
195068833X, 978-1950688333
