Long-Term Assets Are $5,000,current Liabilities Are $700,and Long-Term Liabilities Are

question 134

Multiple Choice

Long-term assets are $5,000,current liabilities are $700,and long-term liabilities are $3,000.If the current ratio is 3 to 1,then current assets are

• A)$9,000.
• B)$6,900.
• C)$4,300.
• D)$2,100.

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Definitions:

Normal Good

A good for which demand increases as the income of consumers increases, and falls when consumer income decreases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Income Elasticity

A measure that quantifies the responsiveness of the demand for a good or service to a change in income of the people demanding the good.

Consumer Income

Consumer income is the total earnings of an individual from all sources, influencing their spending and saving behaviors.