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Nunn Company Reported the Following Data What Was the Current Ratio?
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question 30

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Nunn Company reported the following data:  Quick Assets $55,000 Current assets 150,000 Total Liabilities 12,600 Average net receivables 107,600 Beginning inventory 38,000 Long-term liabilities 200,000 Net credit sales 126,000 Cost of goods sold 84,000 Ending inventory 46,000\begin{array} { | l | r | } \hline \text { Quick Assets } & \$ 55,000 \\\hline \text { Current assets } & 150,000 \\\hline \text { Total Liabilities } & 12,600 \\\hline \text { Average net receivables } & 107,600 \\\hline \text { Beginning inventory } & 38,000 \\\hline \text { Long-term liabilities } & 200,000 \\\hline \text { Net credit sales } & 126,000 \\\hline \text { Cost of goods sold } & 84,000 \\\hline \text { Ending inventory } & 46,000 \\\hline\end{array} What was the current ratio?


Definitions:

Conditional Indorsement

A stipulation placed on a negotiable instrument (like a check) that modifies the way the instrument is to be redeemed.

Blank Indorsement

A signature by the holder on the back of a negotiable instrument, such as a check, without specifying a particular endorsee, allowing any holder to claim the funds.

Special Indorsement

A legal endorsement on a negotiable financial instrument that specifies the person to whom the instrument is payable.

Restrictive

Pertains to conditions or rules that limit or control something, often used in legal and regulatory contexts.

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