A Corporation Reports the Following Year-End Balance Sheet Data A)058
B)1

question 223

Multiple Choice

A corporation reports the following year-end balance sheet data.The company's acid-test ratio equals: $$\begin{array} { l r l r r } \text { Cash } & \$ 40,000 & \text { Current liabilities } & \$ 5,000 \\\text { Accourts receivable } & 55,000 & \text { Long-temn liabilities } & 35,000 \\\text { Irventory } & 60,000 & \text { Cormon stock } & 100,000 \\\text { Equiprment } & \underline{145,000} & \text { Retaired earnirgs } & \underline{90,000} \\\text { Total assets } & \underline{\$ 300,000} & \text { Total liabilities ard equity } & \underline{\$ 300,000}\end{array}$$

• A)0.58
• B)1.27
• C)2.07
• D)0.37
• E)0.63

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Definitions:

Tight Junctions

Specialized connections between neighboring cells that create a waterproof barrier to prevent leaking of extracellular fluid.

Functional Structures

Physical or organizational forms designed specifically to achieve a particular purpose or perform a specific task efficiently.

Organ

In multicelled organisms, a structure that consists of tissues engaged in a collective task.

Fibroblasts

Cells in connective tissue that produce collagen and other fibers.