Question: XYZ Industries had total quick assets of $8,400,000, current assets of $15,500,000, and current liabilities of $10,200,000. Its acid-test ratio equals: a. 0.82 b. 1.52 C. 1.96 d. 0.54

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...
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Question:
XYZ Industries had total quick assets of $8,400,000, current assets of
$15,500,000, and current liabilities of $10,200,000. Its acid-test ratio
equals:
a. 0.82
b. 1.52
C. 1.96
d. 0.54
Transcribed Image Text:Question: XYZ Industries had total quick assets of $8,400,000, current assets of $15,500,000, and current liabilities of $10,200,000. Its acid-test ratio equals: a. 0.82 b. 1.52 C. 1.96 d. 0.54
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