The Following Balance Sheet Information Is Provided for Greene Company

question 124

Multiple Choice

The following balance sheet information is provided for Greene Company for Year 2: $\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 5,400 \\\text { Accounts receivable } & 15,500 \\\text { Inventory } & 18,000 \\\text { Prepaid expenses } & 1,600 \\\text { Plant and equipment, net of depreciation } & 20,200 \\\text { Land } & \underline{ 19,950 }\\\text { Total assets } &\underline{ \$ 80,650}\\\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } & \$ 4,500 \\\text { Salaries payable } & 11,500 \\\text { Bonds payable (Due in ten years) } & 19,000 \\\text { Common stock, no par } & 30,000 \\\text { Retained earnings } &\underline{ 15,650} \\\text { Total liabilities and stockholders' equity }& \$ 80,650\end{array}$
What is the company's quick (acid-test) ratio?

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Definitions:

Marketing Mix

The mix of elements a company can manipulate to encourage consumer buying of its goods, usually comprised of product, price, place, and promotion.

Marketing Exchanges

Transactions in which values are exchanged between a buyer and a seller, typically involving products, services, and/or information.

B2B

Business-to-Business, a type of commercial transaction between businesses, such as one involving a manufacturer and wholesaler or a wholesaler and retailer.

C2C

Consumer-to-consumer, a business model whereby consumers trade with each other, typically through an online platform.