Excerpts from Sydner Corporation's Most Recent Balance Sheet Appear Below

question 210

Multiple Choice

Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,515 and the cost of goods sold was $975.The current ratio at the end of Year 2 is closest to:

• A) 1.70
• B) 0.42
• C) 0.85
• D) 0.51

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Definitions:

Failure to Warn

A legal concept in product liability whereby a manufacturer is held liable for not providing adequate warning to consumers about the risks or hazards associated with using a product.

Exterminator

An exterminator is a professional who specializes in eliminating pests and vermin from properties.

Pesticides

Chemical substances used to kill or control pests in agriculture, landscaping, and public health applications.

Implied Warranty

A legal concept presuming that sold goods are fit for their intended purpose, even if not expressly stated by the seller.