Using the Following Balance Sheet and Income Statement Data, What

question 49

Multiple Choice

Using the following balance sheet and income statement data, what is the current ratio? $$\begin{array} { l c l l } \text { Current assets } & \$ 21,000 & \text { Net income } & \$ 45,000 \\\text { Current liabilities } & 12,000 & \text { Stockholders' equity } & 63,000 \\\text { Average assets } & 132,000 & \text { Total liabilities } & 27,000 \\\text { Total assets } & 90,000 & & \\\text { Average common shares outstanding was } 15,000 .\end{array}$$

• A)0.78 : 1
• B)3.33 : 1
• C)0.57 : 1
• D)1.75: 1

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Definitions:

Drug

A substance that has a physiological effect when ingested or otherwise introduced into the body, often used for medicinal purposes.

Gamma Aminobutyric Acid (GABA)

A neurotransmitter in the brain that plays a key role in regulating neural excitability and anxiety.

Neurotransmitter

Chemicals in the nervous system that transmit signals across a synapse from one neuron to another, influencing various functions such as mood and behavior.

Alcohol

A psychoactive substance and depressant that is found in beverages such as beer, wine, and spirits, affecting the central nervous system.