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:
°C
A scale and unit of measurement for temperature where 0°C is the freezing point of water and 100°C is its boiling point at 1 atmosphere of pressure.
Atm
A unit of pressure, also known as atmosphere, approximately equal to the earth's atmospheric pressure at sea level.
Temperature
A measure of the average kinetic energy of the particles in a system, signifying how hot or cold the system is.
°C
Degrees Celsius, a unit of temperature on the Celsius scale, where 0°C represents the freezing point of water, and 100°C its boiling point at sea level.
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