Dennisport Corporation Has an Acid-Test Ratio of 2

question 43

Multiple Choice

Dennisport Corporation has an acid-test ratio of 2.6. It has current liabilities of $49,000 and noncurrent assets of $79,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and inventory. If Dennisport's current ratio is 4.1, its inventory and prepaid expenses must be:

• A) $121,900
• B) $73,500
• C) $123,000
• D) $78,000

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