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

question 95

Multiple Choice

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

• A) 5.3
• B) 3.6
• C) 3.3
• D) 2.3

---

Definitions:

Master Document

A container file in word processing software that holds and organizes multiple subdocuments for large projects.

Subdocument

A smaller document that is part of a larger document, often used in word processing to manage and organize large projects.

Mark As Final

A feature in software programs that allows a document or file to be flagged as complete or final, preventing further edits.

Password

A secret word or string of characters used to authenticate a user’s identity for secure access to resources.