Use the Information Below for Privett Company to Answer the Questions

question 20

Multiple Choice

Use the information below for Privett Company to answer the questions that follow.
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$$\begin{array}{l}\text { Privett Company }\\\begin{array} { l r } \text { Accounts payable } & \$ 30,000 \\\text { Accounts receivable } & 35,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 25,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 100,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 20,000 \\\text { Property, plant, and equipment } & 400,000 \\\text { Prepaid expenses } & 2,000\end{array}\end{array}$$
-Based on the data for Privett Company, what is the amount of quick assets?

• A) $168,000
• B) $96,000
• C) $60,000
• D) $61,000

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Definitions:

Black Legend

A historiographical term that refers to a style of tendentious, subjective historical writing or propaganda that demonizes the Spanish Empire, its people, and its culture, minimizing positive achievements and magnifying negative aspects of Spanish colonial rules, particularly in the Americas.

North American Empire

Generally refers to the territorial expansions and colonial pursuits of European powers and later the United States across the North American continent from the early modern period through the 19th century.

Liberty

The quality or state of being free; the power to do as one pleases, free from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

Indians

Refers to the indigenous peoples of India or the Indigenous peoples of the Americas, depending on the context, known for their rich cultures, histories, and contributions to society.