Based on the Following Data, What Is the Quick Ratio

question 39

Multiple Choice

Based on the following data, what is the quick ratio, rounded to one decimal point?

• A)3.4
• B)3.0
• C)2.2
• D)1.8

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Definitions:

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by changes in price.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price, indicating flexibility in the production process.

Actual Incidence

The true distribution of a tax burden or the actual effect of a financial activity on different groups or entities.

Tax Burden

The measure of the total amount of taxes paid by individuals or businesses relative to their income, often used to assess the impact of taxation on economic well-being.