Financial Statements for Marcial Company Appear Below

question 69

Multiple Choice

Financial statements for Marcial Company appear below:

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-Marcial Company's acid-test (quick) ratio at the end of Year 2 was closest to which of the following?

• A) 0.25 to 1.
• B) 0.76 to 1.
• C) 1.04 to 1.
• D) 1.32 to 1.

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Definitions:

Amino Group

An amino group is a functional group consisting of a nitrogen atom attached to two hydrogen atoms (–NH2) and is a fundamental component of amino acids and thus proteins.

Amino Acids

Organic compounds that serve as the building blocks of proteins. They contain an amino group and a carboxylic acid group, and they vary by the side chain attached to their alpha carbon.

Nitrogenous Waste

Waste products containing nitrogen, such as urea, ammonia, and uric acid, produced by the metabolism of proteins and nucleic acids in organisms.

Urea

A waste product formed in the liver, the final nitrogenous excretion product of protein metabolism, which is excreted in the urine.