Use the Table for the Question(s)below

question 100

Multiple Choice

Use the table for the question(s) below.
Consider the following balance sheet:
-Luther Corporation's cash ratio for 2009 is closest to:

• A)1.19
• B)10.6
• C)0.44
• D)0.41

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Definitions:

Petty Cash

Petty cash is a small amount of cash on hand used for paying expenses too small to merit writing a check or using a credit card.

Cash Payments

Transactions where money is paid out by a business or individual in exchange for goods or services.

Writing Checks

The process of completing a check to make a payment from a bank account.

Order

A request or instruction to purchase, sell, or supply goods or services.