The quick ratio is 1.0. Current assets are $100,000 and current liabilities are $80,000. What is the amount in the inventory account?
A) $20,000
B) $80,000
C) $125,000
D) $180,000
E) Cannot be determined with the information provided.
A
Business
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Which of the following topics involves a contingent liability?
A) Installment accounts receivable B) A discounted note receivable C) Securitization D) Credit card sales
Business
Answer the following statements true (T) or false (F)
An asset should be initially recorded at either its historical acquisition cost or its cash equivalent purchase price, whichever is greater.
Business
Account analysis classifies accounts according to the ELMS system. Briefly describe this system.
What will be an ideal response?
Business
Status reports, ______ studies, and investigative reports are presented regularly in organizations.
Fill in the blank(s) with the appropriate word(s).
Business