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Bark Three Times Pet Store's accountant has recorded the following: Total current assets = $60,000, including Cash = $24,000; Accounts Receivable = $20,000; and Inventory = $16,000. Total assets = $230,000; Total current liabilities = $48,000; and Total current and long-term liabilities = $98,000. The store's current ratio = 1.25. The store's acid-test ratio = .92
Employer
A person or entity that hires and employs workers, providing wages or salary in exchange for labor or services.
Enforceable
Capable of being imposed or upholding through legal means.
Liability
The state of being legally responsible for something, typically involving debt or legal obligations.
Landlord
An individual or entity that owns a property and rents it out to tenants in exchange for a periodic payment.
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