Dennisport Corporation has an acid-test ratio of 2.5. It has current liabilities of $40,000 and noncurrent assets of $70,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and inventory; it has no short-term notes receivable. If Dennisport's current ratio is 3.1, its inventory and prepaid expenses must be:
A. $40,000
B. $12,400
C. $24,000
D. $30,000
Answer: C
You might also like to view...
To avoid ethical problems with visual support in a message,
A) limit background information. B) exaggerate visual information that supports your argument. C) group data carefully. D) use emotional manipulation. E) simplify cause-and-effect relationships whenever possible.
Clementine Co computes depreciation to the nearest whole month and uses the straight-line method. On May 2, 2015, the company purchased an asset for $18,000 with a four-year life and a $3,600 residual value. On October 6, Karen also sold an asset with a cost of $34,500 that had been purchased in 2015. The sold asset had been estimated to have a five-year life and no residual value when it was
purchased. The depreciation expense on these two assets for 2015 totals A) $7,575 B) $10,500 C) $9,300 D) $7,600
One way to unblock negotiations is by using "why not" questions and carefully listening to identify and understand the other party's preferences.
Answer the following statement true (T) or false (F)
Which of the following is/are functions of data analysis?
A) answers the question asked B) summarizes, generalizes, and computes variances C) summarizes, generalizes, compares differences, and relates underlying patterns D) summarizes, harmonizes, and strategizes data in a way that solves problems E) computes, transforms, resolves