The following figures are taken from the statement of financial position of GEN Co. $m Inventory 2 Receivables 3 Cash 1 Payables 3 Bank loan repayable in 5 years time 3 What is the current ratio? A 1.33 B 2.00 C 1.00 D 0.33

The following figures are taken from the statement of financial position of GEN Co. $m Inventory 2 Receivables 3 Cash 1 Payables 3 Bank loan repayable in 5 years time 3 What is the current ratio? A 1.33 B 2.00 C 1.00 D 0.33

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Description: The following figures are taken from the statement of financial position of GEN Co.$mInventory 2Receivables 3Cash 1Payables 3Bank loan repayable in 5 years time 3What is the current ratio?A 1.33B 2.00C 1.00D 0.33

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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The following figures are taken from the statement of financial position of GEN Co.

Inventory 2

Receivables 3

Cash 1

Payables 3

Bank loan repayable in 5 years time 3

What is the current ratio?

A 1.33

B 2.00

C 1.00

D 0.33

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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