Team Shirts Had Current Assets of $2,500,long-Term Assets of $3,850,current

question 7

Multiple Choice

Team Shirts had current assets of $2,500,long-term assets of $3,850,current liabilities of $1,450,long-term liabilities of $2,000,and shareholder's equity of $2,900.The current ratio (rounded) is ________.

• A)0.72
• B)1.84
• C)4.38
• D)1.72

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Definitions:

Pharmacy

A place where drugs and medicines are prepared and dispensed by a licensed pharmacist.

Anticipatory Repudiation

A situation in contract law where one party prematurely conveys their decision not to fulfill the contract terms, breaching the agreement.

Toady

A person who flatters or defers to others for a self-serving purpose; essentially, a sycophant.

Injunction

A court order compelling a party to do or to refrain from doing a specified act.