Given the Following Information,calculate the Current Ratio: Liabilities = $-24,500

question 17

Multiple Choice

Given the following information,calculate the current ratio: Liabilities = $-24,500
Liquid assets = $-4,900
Monthly credit payments = $-800
Monthly savings = $-760
Net worth = $-72,500
Current liabilities = $-1,600
Take-home pay = $-2,300
Gross income = $-3,500
Monthly expenses = $-2,040

• A) -33.79
• B) -3.06
• C) -2.40
• D) -34.78
• E) -21.71

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Definitions:

Standard of Care

The level of care and caution expected from someone who has a responsibility to act carefully.

Distributor's Liability

Legal accountability faced by distributors for selling or distributing defective products that cause harm or loss to the purchasers.

Manufacturer's Negligence

Occurs when a manufacturer fails to meet a duty of care owed, leading to a defective product that causes harm.

Fiduciary Duty

A legal obligation to act in the best interest of another party, typically involving a relationship of trust, such as between a trustee and the beneficiaries of the trust.