XYZ Industries' total quick assets were $4,500,000, its current assets were $9,800,000, and its current liabilities were $5,000,000. Its acid-test ratio equals: a. 0.46 b. 0.90 c. 1.96 d. 1.20 e. 2.18
XYZ Industries' total quick assets were $4,500,000, its current assets were $9,800,000, and its current liabilities were $5,000,000. Its acid-test ratio equals: a. 0.46 b. 0.90 c. 1.96 d. 1.20 e. 2.18
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:XYZ Industries' total quick assets were $4,500,000, its current assets
were $9,800,000, and its current liabilities were $5,000,000. Its acid-test
ratio equals:
a. 0.46
b. 0.90
c. 1.96
d. 1.20
e. 2.18
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