Accounts payableAccounts receivableAccrued liabilities$30,00035,0007,00025,00040,00072,000100,00075,00036,00020,000400,0002,000Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?O a. 1.7O b. 2.9O c. 1.1O d. 1.0CashsumpanyIntangible assetsInventoryLong-term investmentsLong-term liabilitiesMarketable securitiesNotes payable (short-term)Property, plant, and equipmentPrepaid expenses

Quick ratio is a ratio which shows how much we have invested in quick assets as compared to current…

Answered: Based on the data for Privett Company,…

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Accounting

Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?

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

Accounts payable
Accounts receivable
Accrued liabilities
$30,000
35,000
7,000
25,000
40,000
72,000
100,000
75,000
36,000
20,000
400,000
2,000
Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
O a. 1.7
O b. 2.9
O c. 1.1
O d. 1.0
Cash
sumpany
Intangible assets
Inventory
Long-term investments
Long-term liabilities
Marketable securities
Notes payable (short-term)
Property, plant, and equipment
Prepaid expenses

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