ABC Corporation's total quick assets were $5,888,000, its currentassets were $11,700,000, and its current liabilities were$8,000,000. Its acid-test ratio equals:a. 0.50b. 0.68c. 0.74d. 1.50e. 2.20

Step 1: Understanding the Acid-Test RatioThe acid-test ratio (quick ratio) measures a company's…

Answered: ABC Corporation's total quick assets…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

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Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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ABC Corporation's total quick assets were $5,888,000, its current assets were $11,700,000, and its current liabilities were $8,000,000. Its acid-test ratio equals: a. 0.50 b. 0.68 c. 0.74 d. 1.50 e. 2.20