Convex Industries Has Inventories of $200 Million,current Assets of $1

question 60

Multiple Choice

Convex Industries has inventories of $200 million,current assets of $1.4 billion,and current liabilities of $530 million.What is its quick ratio?

• A)0.38
• B)0.44
• C)2.12
• D)2.26

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Definitions:

Adjoining Lake

A body of water that is directly connected or next to a particular piece of land or property.

Tenancy in Common

A form of joint ownership of property where each owner holds an undivided interest in the property, and there is no right of survivorship.

Joint Tenancy

A form of property co-ownership that provides equal shares and rights to the property, with the right of survivorship upon a tenant's death.

Ownership

The legal right to possess, use, control, and dispose of an asset or property.