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

• A) 5.3
• B) 3.6
• C) 3.3
• D) 2.3

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Definitions:

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Psychologists who focus on individual potential and stress the importance of growth and self-actualization.

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