Examlex

Solved

The Crafter Company Has the Following Assets and Liabilities Determine the Quick Ratio Rounded to One Decimal Point)

question 163

Multiple Choice

The Crafter Company has the following assets and liabilities:  ASSETS  Cash $28,000 Accounts receivable 15,000 Inventory 20,000 Equipment 50,000 LIABILITIES  Current portion of long-term debt 10,000 Accounts payable 2,000 Long-term debt 25,000\begin{array} { | l | c | } \hline \text { ASSETS } & \\\hline \text { Cash } & \$ 28,000 \\\hline \text { Accounts receivable } & 15,000 \\\hline \text { Inventory } & 20,000 \\\hline \text { Equipment } & 50,000 \\\hline & \\\hline \text { LIABILITIES } & \\\hline \text { Current portion of long-term debt } & 10,000 \\\hline \text { Accounts payable } & 2,000 \\\hline \text { Long-term debt } & 25,000 \\\hline\end{array} Determine the quick ratio rounded to one decimal point) .


Definitions:

Consumer Price Index

An index measuring the change in the price level of a basket of consumer goods and services purchased by households.

Scatterplot

A type of graph in which the values of two variables are plotted along two axes, the pattern of the points revealing any correlations.

Log

The logarithm function, which is the inverse operation of exponentiation, used in many fields to transform data for analysis or to solve exponential equations.

Relative Cost

An assessment of cost in relation to another item's cost, providing a basis for comparison and decision-making.

Related Questions