Jones Corp

question 98

Multiple Choice

Jones Corp.reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet.The current assets consisted of $62,000 Cash;$43,000 Accounts Receivable;and $88,000 of Inventory.The acid-test (quick) ratio is:

• A)1.4:1.
• B)0.77:1.
• C)0.54:1.
• D)1:1.
• E)0.64:1.

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Definitions:

Population Proportion

The fraction of members in a statistical population that meet a specified characteristic or criteria, often estimated using sample data.

Defective Items

Products that fail to meet quality standards or specifications and are therefore unsuitable for sale or use.

Estimating P

This refers to the process of determining the probability of success in a given Bernoulli trial or binomial experiment.

Data

Information collected together for reference or analysis, usually in numerical or categorical form.