Kingery Corporation Has Current Assets of $1,800,000 and Current Liabilities

question 18

Multiple Choice

Kingery Corporation has current assets of $1,800,000 and current liabilities of $750,000.If they pay $350,000 of their accounts payable, what will their new current ratio be?

• A)3.6:1
• B)2.4:1
• C)4.5:1
• D)2.0:1

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Definitions:

Training

The act of teaching or developing in oneself or others any skills and knowledge that relate to specific useful competencies.

Trenches

Long, narrow ditches used in warfare to protect soldiers from enemy fire, or metaphorically, to denote being deeply immersed in a challenging or demanding situation.

Socialization Process

The process by which individuals learn the values, norms, and required behaviors which are necessary for participating within their society or specific groups.

Strong Cultures

Organizational environments characterized by deeply shared values, beliefs, and norms that influence behavior of members.