A Company with a Quick Ratio of 1

question 54

Multiple Choice

A company with a quick ratio of 1.23 means that the company:

• A) has $1.00 in quick assets for every $1.23 in current liabilities.
• B) has $1.23 in quick assets for every $1.00 in current liabilities.
• C) could not pay off all of its current liabilities using quick assets.
• D) would have to use inventory to help pay off its current liabilities.
• E) has $1.23 in current assets for every $1.00 in current liabilities.

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Definitions:

Positive Covenant

Positive covenant refers to stipulations in financial contracts that require the borrower to perform specific actions, such as maintaining certain financial ratios or insurance levels.

Loan Agreement

A legal contract between a borrower and a lender that outlines the terms and conditions of a loan, including repayment schedule, interest rates, and collateral.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to raise immediate capital.

Financing

The act of providing funds for business activities, making purchases, or investing, often involving loans, equity investments, or other forms of financial support.