Use the Information Below for Privett Company to Answer the Questions

question 20

Multiple Choice

Use the information below for Privett Company to answer the questions that follow.
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$$\begin{array}{l}\text { Privett Company }\\\begin{array} { l r } \text { Accounts payable } & \$ 30,000 \\\text { Accounts receivable } & 35,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 25,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 100,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 20,000 \\\text { Property, plant, and equipment } & 400,000 \\\text { Prepaid expenses } & 2,000\end{array}\end{array}$$
-Based on the data for Privett Company, what is the amount of quick assets?

• A) $168,000
• B) $96,000
• C) $60,000
• D) $61,000

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Definitions:

Quinine Water

A beverage containing quinine, historically used as a treatment for malaria and known for its bitter taste.

Facial Nerve

The seventh cranial nerve responsible for controlling muscles of facial expression and transmitting taste sensations from the anterior two-thirds of the tongue.

Olfaction

The sense of smell, a chemical sensing system that detects odors or chemical substances in the environment.

Optic Nerve

Nerve carrying visual signals from the eye to the optic chiasm.