Accounting A business has cash of $30,000, accountsreceivable of $40,000, inventory of $20,000,and current liabilities of $50,000. What is itsquick ratio?

Explanation of Quick Ratio: The quick ratio, also known as the acid-test ratio, is a financial…

Answered: A business has cash of $30,000,…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...

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A business has cash of $30,000, accounts receivable of $40,000, inventory of $20,000, and current liabilities of $50,000. What is its quick ratio?