A Company Has $100,000 in Current Assets;$600,000 in Total Assets;$80,000

question 32

Multiple Choice

A company has $100,000 in current assets;$600,000 in total assets;$80,000 in current liabilities,and $120,000 in total liabilities.Calculate the current ratio of the company.(Round your answer to two decimals. )

• A)1.25
• B)2.00
• C)1.80
• D)0.83

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Definitions:

Unenforceable

Pertaining to a contract or clause that is not legally binding and cannot be upheld by a court of law due to certain legal deficiencies.

Bank Robbery

The illegal act of stealing money or assets from a bank while it is open for business.

Implied-In-Fact Contract

A contract implied by direct or indirect acts of the parties.

Unfairly Benefited

A situation where one party gains an advantage or profit at the expense of another in an unjust manner.