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A business has current assets of $120,000, including cash of $20,000, and current liabilities of $80,000. What is the current ratio?

A business has current assets of $120,000, including cash of $20,000, and current liabilities of $80,000. What is the current ratio?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...
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A business has current assets of $120,000, including cash of $20,000, and current liabilities of $80,000. What is the current ratio?
Transcribed Image Text:A business has current assets of $120,000, including cash of $20,000, and current liabilities of $80,000. What is the current ratio?
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