Digby has an asset turnover of 1.57 (asset turnover = sales/assets). that means:
a) every $1.57 of profit in the firm comes from each $1.00 of sales.
b) each $1.00 of assets in the firm generates $1.57 of sales revenue.
c) every $1.00 of assets in the firm generates $1.57 of profit.
d) every $1.57 of assets in the firm generates $1.00 of sales.

correct option is B) Each $1.00 of assets in the firm generates $1.57 of sales revenue

Explanation:

given data

asset turnover =  1.57

Asset Turnover = Sales  ÷  Assets

to find out

what is Asset Turnover means

solution

as given that Asset Turnover = Sales  ÷  Assets

we know Asset turnover is measures the company ability

and  Asset turnover is generated sales from the assets it is known as Asset turnover

so as given asset turnover =  1.57 sale revenue is generated by every $1 assets in firm

so here correct option is B) Each $1.00 of assets in the firm generates $1.57 of sales revenue

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