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Question: XYZ Corporation had total quick assets of $8,200,000, current assets of $14,500,000, and current liabilities of $10,000,000. Its acid-test ratio equals: a. 0.62 b. 1.45 c. 0.82 d. 0.97 e. 0.72

Question: XYZ Corporation had total quick assets of $8,200,000, current assets of $14,500,000, and current liabilities of $10,000,000. Its acid-test ratio equals: a. 0.62 b. 1.45 c. 0.82 d. 0.97 e. 0.72

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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Question: XYZ Corporation had total quick assets of $8,200,000, current assets of $14,500,000, and current liabilities of $10,000,000. Its acid-test ratio equals: a. 0.62 b. 1.45 c. 0.82 d. 0.97 e. 0.72
Transcribed Image Text:Question: XYZ Corporation had total quick assets of $8,200,000, current assets of $14,500,000, and current liabilities of $10,000,000. Its acid-test ratio equals: a. 0.62 b. 1.45 c. 0.82 d. 0.97 e. 0.72
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