The Pioneer Company Has Provided the Following Account Balances

question 77

Multiple Choice

The Pioneer Company has provided the following account balances:
Cash $38,000;
Short-term investments $4,000;
Accounts receivable $6,000;
Inventory $48,000;
Long-term notes receivable $2,000;
Equipment $96,000;
Factory Building $180,000;
Intangible assets $6,000;
Accounts payable $30,000;
Accrued liabilities payable $4,000;
Short-term notes payable $14,000;
Long-term notes payable $92,000;
Contributed capital $180,000;
Retained earnings $60,000.
What is Pioneer's current ratio?

• A)2.00
• B)2.17
• C)2.71
• D)1.00

---

Definitions:

Ombudsman

An independent official appointed to investigate individuals' complaints against maladministration, especially that of public authorities.

Workplace Disputes

Conflicts that arise in the workplace over issues such as working conditions, employee rights, and management practices.

Determination

The resolve or firmness of purpose someone has in pursuing a goal, often in the face of adversity.

Open Door Policies

Policies adopted by employers to encourage employees to communicate openly with management about concerns, grievances, or suggestions without fear of reprisal.