Use the Following Information for Questions Below
Eugene Enterprise Ltd

question 49

Multiple Choice

Use the following information for questions below
Eugene Enterprise Ltd.revealed the following information for the years ended December 31,2019 and 2020:
$\begin{array}{lrr}&2020&2019\\\hlineCurrent~ Assets&\\Cash&\$ 25,000 & \$ 26,250 \\Accounts ~Receivable&247,500 & 299,000 \\Inventory&1,950,000 & 1,725,000\\Prepaid~ expenses&\underline{4000} &\underline{4000} \\Total~ Current ~Assets&\underline{\$ 2,226,500} & \underline{\$ 2,054,250} \\Current~ Liabilities&\$ 1,400,000 & \$ 1,225,000 \\Net ~Credit~ Sales&\$ 2,400,000 & \$ 2,255,000 \\\end{array}$
Orville Enterprise's credit terms are net 30 days.
-Eugene Enterprise's quick ratio for 2020 is

• A)1.59:1.
• B)1.39:1.
• C)0.88:1.
• D)0.19:1.

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Definitions:

Fatty Acid

A lipid that is an organic acid containing a long hydrocarbon chain, with no double bonds (saturated fatty acid), one double bond (monounsaturated fatty acid), or two or more double bonds (polyunsaturated fatty acid); components of triacylglycerols and phospholipids, as well as monoacylglycerols and diacylglycerols.

Ligand

A molecule that binds to a specific site in a receptor or other protein.

Receptor

(1) In cell biology, a molecule on the surface of a

Clathrin

A protein that plays a critical role in the formation of coated vesicles, involved in the transport of molecules within cells.