The 2013 and 2014 Partial Balance Sheets for Ottoman Industries

question 43

Multiple Choice

The 2013 and 2014 partial balance sheets for Ottoman Industries is shown below.
Calculate the current ratio for 2014.

• A) 0.47
• B) 0.62
• C) 1.37
• D) 2.20

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Definitions:

Greatest Source of Funds

Typically refers to the primary means or largest contributor of operational or investment capital within an organization or economy.

Sale of Inventory

The process of selling the goods that a company manufactures or purchases to sell in the normal course of doing business.

Increase in Long-term Debt

An increase in long-term debt indicates a company has borrowed more funds that are due for repayment beyond the next twelve months.

Acquisition of Fixed Assets

The process of obtaining physical assets that are expected to be used in producing goods or services for a period longer than one fiscal year.