Examlex
In order to calculate the current ratio for your firm,you divide the total value of current assets by:
Equipment
Tangible property used in operations, such as machinery and office hardware, which has a useful life longer than one year.
Income Statement
A financial report that shows the revenues, expenses, and profits or losses of a company over a specific period.
Balance Sheet
A financial report detailing a company's financial status at a certain moment, illustrating its assets, liabilities, and shareholders' equity.
Owner's Equity Statement
A financial document that outlines the changes in the ownership interest (equity) of a sole proprietorship or individual owner during a reporting period.
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