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Based on the above data, what is the quick ratio, rounded to one decimal point? O 1.0 O 2.9 O 1.7 O 1.1

Based on the above data, what is the quick ratio, rounded to one decimal point? O 1.0 O 2.9 O 1.7 O 1.1

FINANCIAL ACCOUNTING
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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Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point? O 1.0
Transcribed Image Text:Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point? O 1.0
Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point? 1.0 O 2.9 O 1.7 O 1.1 Question 22 Identify which section the statement of cash flows (using the indirect method) would present information regarding the follo
Transcribed Image Text:Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point? 1.0 O 2.9 O 1.7 O 1.1 Question 22 Identify which section the statement of cash flows (using the indirect method) would present information regarding the follo
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