Mitchell Corporation Has Current Assets of $1,600,000 Million and Current

question 98

Multiple Choice

Mitchell Corporation has current assets of $1,600,000 million and current liabilities of $750,000.If they pay $350,000 of their accounts payable, what will their new current ratio be?

• A)3.1:1
• B)4.0:1
• C)1.5:1
• D)2.1:1

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Definitions:

Authoritarian

Relating to a system of government or leadership characterized by strict obedience to authority, often at the expense of personal freedom.

Child-rearing Style

Refers to the methods, strategies, and practices parents use to influence, teach, and socialize their children.

Stern Punishments

Severe or strict penalties imposed as a response to an offense or misconduct.

Different Race

Refers to the categorization of humans into populations or groups based on various sets of physical characteristics, cultural history, or geographic ancestry.