Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year 1Cash$37,500 $36,850 Short-term investments 90,000 90,000 Accounts receivable, net 85,500 86,250 Merchandise inventory 121,000 117,000 Prepaid expenses 12,100 13,500 Plant assets 388,000 392,000 Accounts payable 113,400 111,750 Net sales 711,000 706,000 Cost of goods sold 390,000 385,500
A. 3.05.
B. 1.98.
C. 2.26.
D. 1.88.
E. 2.95.
Answer: D
You might also like to view...
Which of the following is the most effective way to shorten a sentence?
A) Avoid redundancies B) Avoid using commas C) Use the passive voice instead of the active D) Use camouflaged verbs E) Use hedging sentences
The strength to work through challenges and fears that might involve moral principles or uncertainties is considered ______.
a. moral certainty b. moral courage c. moral responsibility d. morality
Battery committed by an agent in the principal's premises and during the scope of employment is considered an unintentional tort
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. Groups with fewer than three people tend not to derive the benefits of a collaborative team, and teams with more than seven people tend to have communication and control issues. 2. The effectiveness of work teams depends on how well they are managed and treated within the organization. If mismanaged, they can cause more harm than good. 3. A cross-functional team consists of a small group of workers who come together for a set amount of time to discuss and resolve specific issues. 4. The authors of this textbook, Chris Neck, Jeff Houghton, and Emma Murray, were used as an example of a virtual team. 5. One classic way of understanding teams and their effectiveness is to consider teams in terms of the contextual influences that affect their functioning, their composition, the processes they use, and the outcomes they achieve.