The ratio measuring the number of dollars of sales earned per dollar of fixed assets is the O. a. intangible asset ratio ︵ b, fixed asset turnover ratio c, current asset turnover ratio d. days, in assets ratio QUESTION 2 Losses on the discarding of fixed assets are reported in the income statement. True False QUESTION 3 The process of transferring the cost of an asset to an expense account is called all of the following except ︵ a, depreciation b. allocation c. depletion d. amortization QUESTION 4 A gain can be realized when a fixed asset is discarded. True False QUESTION 5 All property, plant, and equipment assets are depreciated over time. True False