Convex Industries Has Inventories of $150 Million, Current Assets of $1.05

question 15

Multiple Choice

Convex Industries has inventories of $150 million, current assets of $1.05 billion, and current liabilities of $400 million. What is its quick ratio?

• A)2.25
• B)2.12
• C)0.44
• D)0.38

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Definitions:

Unemployment

A situation where an individual who is capable of working and is actively seeking work is unable to find employment.

Income

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.

Wages

Payment usually received by an employee on a regular basis for services rendered to an employer, often quantified as an hourly, daily, or piecework amount.

Salaries

Regular payments made to employees for their labor, typically based on a fixed annual amount and paid in monthly or biweekly installments.