MC Qu. 223 A fixed asset turnover ratio of A fixed asset turnover ratio of 4.3 indicates that for every: O $1 in sales revenue, the firm acquired $4.30 of assets. O $1 in fixed assets, the firm earned $4.30 of net income. O $1 in assets, the firm paid $4.30 of expenses. O $1 in fixed assets, the firm generated $4.30 of net sales