The Financial Statements of Weston Office Supply Include the Following

question 68

Multiple Choice

The financial statements of Weston Office Supply include the following items: What is 2017 current ratio? (Round your answer to two decimal places.)

• A) 0.82
• B) 0.57
• C) 1.22
• D) 1.70

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Definitions:

Retirement Fund

A pool of funds contributed to by individuals, employers, or both for the purpose of funding an employee's retirement.

Gross Pay

The gross income of an employee, which is the sum of all earnings before deductions or taxes are applied.

Deductions

Expenses or amounts subtracted from gross income to reduce the taxable income.

FICA-OASDI

Refers to the Social Security portion of the Federal Insurance Contributions Act tax, covering both the Old Age, Survivors, and Disability Insurance.