Based on the Following Data, What Is the Quick Ratio

question 128

Multiple Choice

Based on the following data, what is the quick ratio, rounded to one decimal point

$$\begin{array} { l r } \text { Accounts payable } & 30,000 \\\text { Accounts receivable } & 60,000 \\\text { Accrued liabilities } & 5,000 \\\text { Cash } & 30,000 \\\text { Intangible assets } & 50,000 \\\text { Inventory } & 69,000 \\\text { Long-term investments } & 80,000 \\\text { Long-term liabilities } & 100,000 \\\text { Marketable securities } & 30,000 \\\text { Fixed assets } & 670,000 \\\text { Prepaid expenses } & 1,000\end{array}$$

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Definitions:

Elasticity Of Supply

An assessment of the extent to which the supply of a product varies following a price alteration.

Time To Adjust

This term refers to the period required for changes in economic or policy conditions to take effect in the market or economy.

Price Change

The variation in the selling price of goods and services over a period of time, influenced by factors such as supply and demand, production costs, and market competition.

Inelastic Supply

describes a situation where the quantity supplied of a good is not significantly affected by changes in price.