Illustration: P&Gs net sales for 2020 were $76,279 million. Its total ending assets were $129,495 million, and beginning assets were $144,266 million.Each dollar invested in assets produced $0.56 in sales. If a company is using its assets efficiently, each dollar of assets will create a high amount of sales.Is it better to have a higher or lower Asset Turnover Ratio?

__________ __________ consist of standing timber and underground deposits of oil, gas, and minerals.

___________ _________ are rights, privileges, and competitive advantages that result from ownership of long-lived assets that do not possess physical substance

____ _____ = Original Cost Accumulated Depreciation

__________ cost is cost less salvage value

Annual expense is the _______ amount for each year