-Given the Above Data,calculate the Current Ratio for the Firm

question 31

Multiple Choice

$\begin{array}{|l|r|r|}\hline \text { B.S item/year } & {\mathbf{2 0 0 9}} & {\mathbf{2 0 1 0}} \\\hline \text { Cash } & 9000 & 3000 \\\hline \text { Receivables } & 22000 & 10000 \\\hline \text { Inventory } & 20000 & 12000 \\\hline \text { Current assets } & \mathbf{3 7 0 0 0} & \mathbf{2 5 0 0 0} \\\hline \text { Non-current assets } & \mathbf{5 5 0 0 0} & \mathbf{6 0 0 0 0} \\\hline \text { Current liabilities } & \mathbf{5 4 0 0 0} & \mathbf{3 0 0 0 0} \\\hline \text { Non-current liabilities } & \mathbf{4 0 0 0 0} & \mathbf{4 5 0 0 0} \\\hline\end{array}$
-Given the above data,calculate the current ratio for the firm for 2009.

• A) \( 0.135 \)
• B) \( 0.531 \)
• C) \( 0.944 \)
• D) \( 1.156 \)

Identify the elements required to prove duress and its effect on contracts.

Grasp the concept of scienter and its relevance in cases of fraud.

Comprehend the circumstances under which nondisclosure can lead to the invalidation of a contract.

Recognize the role of unilateral mistake in contract law and its potential to invalidate agreements.

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Definitions:

Weekly Salary

A fixed amount of money paid to an employee on a weekly basis as compensation for performed work.

Utility Bill

A bill for services provided by a utility company, such as electricity, water, natural gas, or telecommunications.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the capital owned by the owners or shareholders.

Assets

Resources owned by a business that have economic value and can be converted into cash.