Using the Following Balance Sheet and Income Statement Data, What

question 70

Multiple Choice

Using the following balance sheet and income statement data, what is the current ratio? $\begin{array}{lrlr}\text { Current assets } & \$ 7,000 & \text { Net income } & \$ 15,000 \\\text { Current liabilities } & 4,000 & \text { Stockholders' equity } & 21,000 \\\text { Average assets } & 44,000 & \text { Total liabilities } & 9,000\\\text { Total assets } \quad 30,000\end{array}$ Average common shares outstanding was 10,000.

• A) 0.78 : 1
• B) 3.33 : 1
• C) 0.57 : 1
• D) 1.75: 1

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Definitions:

Bicultural

Identifying with or assimilating the cultural traits and values of two distinct cultures, and often navigating between them.

Marginalise

To relegate to an unimportant or powerless position within a society or group.

Assimilate

Involves incorporating new information into existing cognitive schemas or understanding, allowing for adaptation and learning in changing environments.

Integrate

To combine or bring together various parts or elements to form a whole, especially in the context of ideas, cultures, or systems.