If Tim's Tools & Tunes Has Current Assets of $500

question 108

Multiple Choice

If Tim's Tools & Tunes has current assets of $500, inventory of $45, current liabilities of $425, and profit of $250, which of the following is the quick ratio for the business?

• A) 1.07
• B) 1.28
• C) 1.7
• D) 2.18

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Definitions:

Adaptive Culture

An organizational culture characterized by flexibility, and the ability to change in response to external conditions.

Dominant Culture

The set of shared beliefs, values, norms, and practices that is accepted by the majority of members in a society or organization.

Deculturation

The process of losing one's cultural identity, usually as the result of external pressures or assimilation into another culture.

Espoused Values

The declared set of values and norms that an organization claims to strive for and hold dear, which may or may not be reflected in its actual practices.