Current Assets ∕ Current Liabilities

question 149

Multiple Choice

Current assets ∕ Current liabilities

• A) Current ratio
• B) Quick ratio
• C) Average payment period
• D) Fast ratio

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Definitions:

Massive Deficits

Significantly large shortfalls where government expenditures exceed revenue.

Surpluses

Situations in which the quantity of a product or service supplied exceeds the quantity demanded, or when revenues exceed expenditures in a budget.

Tax Expenditures

Governmental financial benefits conferred through tax policies, allowing individuals or corporations to reduce their tax liabilities through deductions, exemptions, or credits.

Means-tested Benefit

Government assistance programs that provide benefits based on the recipient's income and assets, ensuring aid goes to those in financial need.