Data from Dunshee Corporation's most recent balance sheet appear below: Year 2Year 1Current assets: Cash$130 $100 Accounts receivable, net 270 290 Inventory 90 110 Prepaid expenses 10 10 Total current assets$500 $510 Total current liabilities$230 $220 Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730.The current ratio at the end of Year 2 is closest to:
A. 0.40
B. 0.94
C. 0.38
D. 2.17
Answer: D
You might also like to view...
Which of the following statements is true about a monetize-cash-flow defensive strategy?
A) It operates with minimal marketing resources. B) It is used when an optimize position strategy is viable. C) It allows a business to exit a market quickly. D) It is used by a business to exit the market slowly. E) It aims to extract the maximum long-run cash flow from the market.
You can best help readers grasp your meaning by using old, familiar clichés rather than fresh, original language
Indicate whether the statement is true or false
The true meaning of valuing diversity is to
A) tolerate and treat fairly people from many different groups. B) establish quotas for hiring and promoting minority group members. C) be able to joke about how others are different than you. D) respect and enjoy a wide range of cultural and individual differences.
Which of the following statements is FALSE about global supplier management?
a. Supply risks associated with global sourcing do not have the potential to disrupt the operations of firm’s global supply chain partners. b. Companies buying abroad need to account for the hidden cost of offshoring. c. Custom clearance times and other government red tape should be considered in decisions to work with global suppliers. d. It is expensive and time-consuming to gather critical information from geographically dispersed suppliers.