Team Shirts Has $240,000 in Total Current Assets and $190,000

question 83

Short Answer

Team Shirts has $240,000 in total current assets and $190,000 in total current liabilities.Calculate the current ratio for Team Shirts.Round your answer to one decimal place.

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Definitions:

Limited Usefulness

Refers to the notion that a tool, resource, or piece of information is only beneficial or applicable in certain situations or to a certain extent.

Optimal Quantity

The amount of a good or service that maximizes the net benefit to an individual or society, often considering factors like cost and utility.

Utility-maximizing Consumer

An economic concept where consumers aim to get the greatest utility or satisfaction from their purchases given their budget constraints.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, unlike normal goods, where demand increases with rising income.