As the Accountant for Marston Retail Stores, You Must Calculate

question 161

Multiple Choice

As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The firm's current assets were $120,000, its fixed assets were $240,000, its current liabilities were $80,000, and its long-term liabilities were $60,000. Given these facts, what is the firm's current ratio?

• A) 1
• B) 1.5
• C) 2
• D) 3
• E) 4

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Definitions:

Measure of Central Tendency

A statistical measure that describes the center of a data set; common examples include the mean, median, and mode.

Median

A statistical measure that represents the middle value in a given set of numbers when arranged in order.

Median

A statistical measure representing the middle value in a given set of numbers, arranging them in ascending or descending order.

Statistics Exam

An assessment aimed at evaluating one's understanding and ability to apply statistical methods and analyses.