Given the following information calculate the 2016 and 2017 acid-test ratios for Smart-T.:
Is Smart-T's liquidity situation improving?
Note: 2015 net accounts receivables = $40,000
Definitions:
Marginal Utility
The change in satisfaction or utility an individual gains from consuming an additional unit of a good or service.
Consumer Surplus
The gap between what consumers are ready to pay for a product or service and the actual amount they spend.
Marginal Utility
The additional satisfaction or utility that a person receives from consuming one more unit of a good or service.
Total Utility
The entire pleasure derived from using a certain aggregate quantity of a good or service.
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