Use the Following Data to Calculate the Current Ratio

question 146

Multiple Choice

Use the following data to calculate the current ratio.

• A) 2.07 : 1
• B) 1.67 : 1
• C) 3.00 : 1
• D) 2.60 : 1

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Definitions:

Taxpayers

Individuals or entities that are required to make payments to the government based on income, property, goods, and services.

Marginal Tax Rate

The rate at which the last dollar of a taxpayer’s income is taxed, indicating the percentage of additional income that will be taxed.

Average Tax Rate

The portion of total income that is paid as taxes, calculated by dividing the total amount of taxes paid by the total income.

Tax Liability

The total amount of tax that an individual or business owes to the government, based on their income or revenue.