Based on the data for
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Privett Company | |
| Accounts payable | $30,000 |
| 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 data for Privett Company, what is the quick ratio, rounded to one decimal point?
a.1.7
b.1.0
c.1.1
d.2.9
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