The net-sales-to-total assets ratio is also referred to as the total asset turnover
Indicate whether the statement is true or false
TRUE
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Mike is given a bottle of wine as a gift. Josh, a neighbour, sees it and recognizes it as a very rare bottle. Knowing that Mike doesn't drink, Josh offers him $300 for it, which he believes to be a fair price. Mike happily agrees. Later, when Josh is looking up the price of the bottle on eBay, he realizes that it is not a valuable bottle of wine at all. He had confused it with another vintage. Josh, who is taking a law class, wonders whether or not he could have the contract set aside. Which of the following statements is true?
A) It is unlikely to be set aside unless Josh could show that it would be unfair or unjust to enforce it. B) It will automatically be set aside on the basis of the doctrine of mistake. C) It will only be set aside if Josh's mistake rendered the contract illegal. D) A contract can never be set aside where a mistake has been made. E) The contract will only be set aside if Josh's mistake was the result of willful blindness.
Lauren was an employee of the gas company. Her job was to fix broken gas lines. A gas line owned by the gas company was broken when Ontario drove off the road and struck the gas line. While she was fixing the gas line, Lauren was injured in an explosion. Lauren sued Ontario for negligence. What should be the result of Lauren's lawsuit?
A. She should win because Ontario's negligence led to the explosion which injured Lauren. B. She should win because Ontario breached the duty of care he owed Lauren. C. She should lose because the explosion was not a foreseeable result of Ontario's driving off the road. D. She should lose because she assumed the risk of being injured while doing her job.