XYZ Corporation's total quick assets were $3,450,000, its current assets were $7,200,000, and its current liabilities were $5,400,000. Its acid-test ratio equals: a. 0.48 b. 0.64 c. 0.74 d. 1.33 e. 1.85

XYZ Corporation's total quick assets were $3,450,000, its current assets were $7,200,000, and its current liabilities were $5,400,000. Its acid-test ratio equals: a. 0.48 b. 0.64 c. 0.74 d. 1.33 e. 1.85

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 4DQ

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Question

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Accounting problem

XYZ Corporation's total quick assets were $3,450,000, its current
assets were $7,200,000, and its current liabilities were $5,400,000. Its
acid-test ratio equals:
a. 0.48
b. 0.64
c. 0.74
d. 1.33
e. 1.85

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