Answered: A company’s quick assets are $37,500,…

A company’s quick assets are $37,500, its current assets are $80,000, and its current liabilities are $50,000. Its acid-test ratio equals a. 1.600. c. 0.625. e. 0.469. b. 0.750. d. 1.333.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A company’s quick assets are $37,500, its current assets are
$80,000, and its current liabilities are $50,000. Its acid-test
ratio equals
a. 1.600. c. 0.625. e. 0.469.
b. 0.750. d. 1.333.

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