Law Is

question 29

Multiple Choice

Law is:

• A)constant throughout time.
• B)defined consistently across cultures.
• C)a set of rules governing people and their relationships.
• D)derived from the Latin meaning a chaotic state punctuated by sporadic short-lived order.

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Definitions:

Total Current Assets

The sum of all assets likely to be converted into cash within a year, including cash, marketable securities, accounts receivable, and inventory.

Total Current Liabilities

These are obligations that a company is required to pay within one year or within the normal operating cycle.

Working Capital

The variance between a business's immediate assets and its short-term obligations, signalling its ability to meet short-term debts.

Current Ratio

A financial liquidity ratio that compares a company's current assets to its current liabilities.