QUESTION 1 The ratio measuring the number of dollars of sales earned per dollar of fixed assets is the O. a. intangible asset ratio b, fixed asset turnover ratio c, current asset turnover ratio d. days, in assets ratio QUESTION 2 Losses on the discarding of fixed assets are reported in the income statement. True False QUESTION 3 The process of transferring the cost of an asset to an expense account is called all of the following except a, depreciation b. allocation c. depletion d. amortization QUESTION 4 A gain can be realized when a fixed asset is discarded. True False QUESTION 5 All property, plant, and equipment assets are depreciated over time. True False