Eric & Jared's Department Store Has Current Liabilities of $7,630,net

question 18

Multiple Choice

Eric & Jared's Department Store has current liabilities of $7,630,net working capital of $2,180,inventory of $2,750,and sales of $51,800.What is the quick ratio?

• A)0.79
• B)0.84
• C)0.93
• D)1.09
• E)3.50

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Definitions:

Ethics Scandal

An incident that involves allegations or occurrences of morally dubious behaviors or decisions by individuals or organizations.

Trust

A fiduciary relationship in which one party, known as the trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.