Gros-Morne Inc What Is Their Current Ratio?
A)1

question 79

Multiple Choice

Gros-Morne Inc.has the following assets and liabilities on their balance sheet: $$\begin{array} { l l } \text { Cash and temporary investments } & \$ 25,000 \\\text { Accounts receivable } & 125,000 \\\text { Inventory } & 225,000 \\\text { Capital assets (net) } & 462,500 \\\text { Accounts payable } & 115,000 \\\text { Other payables } & 138,000 \\\text { Bonds payable } & 100,000\end{array}$$ What is their current ratio?

• A)1.06
• B)1.48
• C)2.37
• D)3.31

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Definitions:

Carbohydrate

A large group of organic compounds occurring in foods and living tissues, including sugars, starch, and cellulose. They are a major source of energy for the body.

Chemical Reaction

A process that leads to the transformation of one set of chemical substances to another through the breaking and forming of chemical bonds.

Activation Energy

The minimum amount of energy that is required to initiate a chemical reaction, determining the reaction rate.

Enzymes

Biological molecules that act as catalysts, speeding up chemical reactions in living organisms without being consumed in the process.