A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash$40,000 Current liabilities$75,000 Accounts receivable 55,000 Long-term liabilities 35,000 Inventory 60,000 Common stock 100,000 Equipment 145,000 Retained earnings 90,000 Total assets$300,000 Total liabilities and equity$300,000
A. 0.63
B. 1.27
C. 0.37
D. 0.58
E. 2.07
Answer: B
Business
You might also like to view...
Explain the primary goals of the National Labor Union.
What will be an ideal response?
Business
To qualify as an innocent landowner under SARA, a person must have, at the time of acquiring the property, asked about the previous ownership and uses of the property
a. True b. False Indicate whether the statement is true or false
Business
Using Table 12-6, what is the average number of customers waiting in line?
A) 0.0833 B) 0.5 C) 0.75 D) 1.33 E) 2
Business
A blank indorsement converts order paper to bearer paper and leaves bearer paper as bearer paper
Indicate whether the statement is true or false
Business