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Which of the following statements is true regarding the asset turnover ratio? The asset turnover ratio indicates how much is necessary to spend on assets

Which of the following statements is true regarding the asset turnover ratio?

The asset turnover ratio indicates how much is necessary to spend on assets to generate a given level of sales revenue.

The asset turnover ratio indicates how efficiently a company is able to generate sales with a given amount of assets.

The asset turnover ratio can be used to compare the asset efficiency of companies in various types of industries.

The asset turnover ratio indicates to the company how quickly its asset base is turning over, and therefore allows for replacement time.

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