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The balance sheet of a furniture manufacturer reports the following: Item Amount ($) Cash $500,000 Accounts Receivable $400,000 Inventory $350,000 Marketable Securities $250,000 Current Liabilities $450,000 Long-term Liabilities $700,000 Based on the information provided, the furniture manufacturer's quick ratio is: a. 1.67 b. 2.11 c. 2.56 d. 1.89

The balance sheet of a furniture manufacturer reports the following: Item Amount ($) Cash $500,000 Accounts Receivable $400,000 Inventory $350,000 Marketable Securities $250,000 Current Liabilities $450,000 Long-term Liabilities $700,000 Based on the information provided, the furniture manufacturer's quick ratio is: a. 1.67 b. 2.11 c. 2.56 d. 1.89

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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The balance sheet of a furniture manufacturer reports the following: Item Amount ($) Cash $500,000 Accounts Receivable $400,000 Inventory $350,000 Marketable Securities $250,000 Current Liabilities $450,000 Long-term Liabilities $700,000 Based on the information provided, the furniture manufacturer's quick ratio is: a. 1.67 b. 2.11 c. 2.56 d. 1.89
Transcribed Image Text:The balance sheet of a furniture manufacturer reports the following: Item Amount ($) Cash $500,000 Accounts Receivable $400,000 Inventory $350,000 Marketable Securities $250,000 Current Liabilities $450,000 Long-term Liabilities $700,000 Based on the information provided, the furniture manufacturer's quick ratio is: a. 1.67 b. 2.11 c. 2.56 d. 1.89
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