Which of the following statements is NOT true of the asset turnover ratio?

a. The fixed assets turnover ratio is less significant for equipment-intensive manufacturing industry firms than the total assets turnover ratio.

b. The ratio is quite useful in identifying the inefficient use of current and long-term assets.

c. Asset turnover ratio measures the dollar amount of sales per dollar of assets that the firm has.

d. The higher the total asset turnover, the more efficiently management is using total assets.

Which of the following statements is NOT true of the asset turnover ratio? The fixed assets turnover ratio is less significant for equipment-intensive manufacturing industry firms than the total assets turnover ratio. The ratio is quite useful in identifying the inefficient use of current and long-term assets. Asset turnover ratio measures the dollar amount of sales per dollar of assets that the firm has. The higher the total asset turnover, the more efficiently management is using total assets