The Top Part of Rammy's Inc What Are Rammy's Inc

question 52

Multiple Choice

The top part of Rammy's Inc.'s 2013 balance sheet is listed as follows (in millions of dollars) . $\begin{array}{lrcr}\text { Current assets: } & & \text { Current liabilities: } \\\text { Cash and marketable } & &{\text { Accrued wages and }} & \\\text { securities } & \$ & \text { taxes } & \$ 6 \\\text { Accounts receivable } & 15 & \text { Accounts payable } & 10 \\\text { Inventory } & 95 & \text { Notes payable } & 50 \\\text { Total } & \$ 115 & \text { Total } & \$ 66\end{array}$ What are Rammy's Inc.'s current ratio, quick ratio, and cash ratio for 2013?

• A)1.74242, 0.30303, 0.07576
• B)7.1875, 1.25, 0.3125
• C)1.43939, 0.30303, 0.07576
• D)19.16667, 3.33333, 0.83333

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Definitions:

Conservation Problems

Cognitive tasks that assess the understanding that quantity remains the same despite changes in shape or appearance, often used in developmental psychology.

Hierarchical Classification

A system of organization where entities are arranged in a ranked or graded order, often used in biological taxonomy to classify living organisms into successively more inclusive groups.

Piaget's System

A theory of cognitive development that outlines how children's abilities to think and reason develop through distinct stages as they grow older, developed by Jean Piaget.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.