Convex Industries Has Inventories of $218 Million, Current Assets of $1.4

question 87

Multiple Choice

Convex Industries has inventories of $218 million, current assets of $1.4 billion, and current liabilities of $504 million. What is its quick ratio?

• A) 1.17
• B) 0.94
• C) 2.81
• D) 2.35

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Definitions:

Acceptance

In contract law, the act of agreeing to an offer, thereby creating a binding contract.

Quasi-contract

An obligation imposed by law in the absence of an agreement to prevent unjust enrichment.

Freedom of Contract

The principle that individuals have the liberty to freely enter into agreements and contracts without undue government interference.

Creators’ Obligations

Duties and responsibilities that creators, such as authors, artists, and designers, owe to their clients, sponsors, or the public, which may include originality, quality, and copyright adherence.