The return on assets ratio is calculated by dividing: net sales by return on assets. O profit by average total assets. Onet sales by average total assets. O average total assets by net sales. Impairments occur when: the asset increases in value. Othere is a permanent increase in the recoverable value of the asset. O the recoverable amount falls but increases in future years. an asset's recoverable amount falls below its carrying amount. An asset cost $120,000 and has a useful life of 6 years or 8,000 units of production, and no residual value. Calculate one year's depreciation assuming unit-of-production depreciation and if 1,200 units were produced this year: $21,533. $18,000. $24,000. $20,000. If the useful life of a long-lived asset is adjusted, the change is made in the: O current and future periods. current period only. current and prior periods. future periods only. An asset cost $120,000 and has a useful life is 6 years or 8,000 units of production, and no residual value. Calculate one year's deprecation assuming straight-line depreciation: $21,300. $20,000. $18,667. O $15. An operating line of credit has the following features except O it is pre-authorized by the bank. O it enables timely payments of current liabilities. O it does not have a pre-set limit. O it helps companies manage temporary cash shortfalls