Company A's current assets = $10,000, total assets = $26,000, current liabilities = $7,000 and total liabilities = $47,000. What is Company A's current ratio?
A) $3,000
B) $21,000
C) 1.43
D) 0.55
C
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A minor amount of cash kept on hand to pay for small purchases is referred to as a:
A. Cash payments fund. B. Petty cash fund. C. Cash receipts fund. D. Cookie jar fund.
Horizontal analysis is the comparison of a company's financial condition and performance to a base amount.
Answer the following statement true (T) or false (F)
For inventory that is shipped FOB shipping point, title transfers from the seller to the buyer once the seller ships the inventory.
Answer the following statement true (T) or false (F)
Amanda, whose tax rate is 32%, has NSTCL of $25,000, a $30,000 LTCG from sale of a rare coin held 15 months and a $18,000 LTCG from the sale of stock held for three years. By what amount will Amanda's tax liability increase?
A) $3,450 B) $4,100 C) $5,880 D) $4,300