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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
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