Choose the correct letter of answer A firm has current liabilities and current ratio are P5,000.00 and 2.0, respectively. What is the total of its current assets? * a. P10,000.00 b. P10,500.00 c. P15,000.00 d. P20,000.00 e. P40,000.00

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
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A firm has current liabilities and current ratio are P5,000.00 and 2.0, respectively. What is the total of its current assets? *
a. P10,000.00
b. P10,500.00
c. P15,000.00
d. P20,000.00
e. P40,000.00

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