Presented Below Is Information Available for Norton Company Total Current Liabilities Are $120,000

question 63

Multiple Choice

Presented below is information available for Norton Company. $$\begin{array}{l}\text { Current Assets }\\\begin{array} { l r } \text { Cash } & \$ 4,000 \\\text { Short-term investments } & 75,000 \\\text { Accounts receivable } & 61,000 \\\text { Inventories } & 110,000 \\\text { Prepaid expenses } & 30,000 \\\quad \text { Total current assets } & \$ 280,000\end{array}\end{array}$$ Total current liabilities are $120,000.The acid-test ratio for Norton is

• A)2.33 to 1.
• B)2.08 to 1.
• C)1.17 to 1.
• D).54 to 1.

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