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:

Tetany

Tetany is a medical condition characterized by involuntary contraction of muscles, typically caused by abnormalities in calcium metabolism.

Blood Calcium

The concentration of calcium ions in the blood, essential for various physiological processes including bone formation, nerve function, and muscle contraction.

Parathyroid Hormone

A hormone produced by the parathyroid glands that regulates calcium levels in the blood, essential for bone maintenance and normal nerve and muscle function.

Tetany

A medical condition characterized by spasms in the hands and feet, cramps, and muscle twitches caused by imbalances in calcium or other electrolytes in the body.