The December 31 balance sheet of Occidental Company includes the following information: Cash $60,000 Short-term investments 30,000 Accounts Receivable 170,000 Inventory 180,000 Prepaid Expenses 40,000 Current Liabilities 200,000 Total Liabilities 600,000 What is Occidental's quick ratio at December 31? Select one: a. 0.8 b. 2.4 c. 1.3 d. 1.5 e. None of the above

The December 31 balance sheet of Occidental Company includes the following information: Cash $60,000 Short-term investments 30,000 Accounts Receivable 170,000 Inventory 180,000 Prepaid Expenses 40,000 Current Liabilities 200,000 Total Liabilities 600,000 What is Occidental's quick ratio at December 31? Select one: a. 0.8 b. 2.4 c. 1.3 d. 1.5 e. None of the above

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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