The Following Financial Statement Information Is Available for Buil Corporation

question 134

Multiple Choice

The following financial statement information is available for Buil Corporation: $\begin{array}{lrr}&2017&2016\\\text { Inventory } & \$ 44,000 & \$ 43,000 \\\text { Current assets } & 80,000 & 106,000 \\\text { Total assets } & 432,000 & 358,000 \\\text { Current liabilities } & 25,000 & 36,000 \\\text { Total liabilities } & 102,000 & 88,000\end{array}$ The current ratio for 2017 is

• A) .31:1.
• B) 3.2:1.
• C) 1.5:1.
• D) 4.24:1.

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Definitions:

Rent Control

A government policy or law that limits the amount landlords can charge for leasing a home or apartment to prevent rapid increases in housing costs.

Equilibrium Prices

The market price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Rental Housing

This term refers to properties available for rent, providing accommodation to individuals or families in exchange for regular payments to the owner or landlord.

Minimum Wage

The lowest legal amount that an employer can pay their workers, established by law or contract to ensure a minimum standard of living for employees.