Calculate the Current Ratio Given the Following Information: Current Liabilities

question 298

Multiple Choice

Calculate the current ratio given the following information: current liabilities = $55,000; sales = $250,000; cost of goods sold = $120,000; cash ratio = 0.91; accounts receivable turnover = 6.25;
Inventory turnover = 2.

• A) 2.63
• B) 2.73
• C) 2.83
• D) 2.93
• E) 3.03

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Definitions:

Slave Population

The group of people who were forcibly brought to and held in the Americas and other regions to work without freedom or rights from the 16th to 19th centuries.

Imported Africans

Refers to African people forcibly taken from their homelands and transported primarily to the Americas to be sold into slavery from the 16th to the 19th centuries.

Jamestown

The first permanent English settlement in North America, established in Virginia in 1607.

Spanish Rule

The period of history when various territories were under the administrative control and governance of Spain, particularly in the Americas and the Philippines.