Alan's Chairs Has Current Assets of $138,000 and Current Liabilities

question 22

Multiple Choice

Alan's Chairs has current assets of $138,000 and current liabilities of $102,750. Find the current ratio. (Round to the nearest hundredth)

• A) 59:1
• B) 1.62:1
• C) 1.34:1
• D) .74:1

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Definitions:

Open Circulatory System

A type of circulatory system where blood is not always contained within blood vessels but flows freely through cavities in the body, facilitating exchange of nutrients and waste with cells.

Blood Vessels

The tubes in the body through which blood flows, including arteries, veins, and capillaries, responsible for transporting oxygen, nutrients, and waste products.

Hemoglobin

This substance within red blood cells facilitates the movement of oxygen from the lungs to various body tissues and the return transport of carbon dioxide to the lungs.

Arthropods

Arthropods are invertebrate animals with an exoskeleton, a segmented body, and paired jointed appendages, including insects, arachnids, and crustaceans.