Phillips, Inc What Is the Cash Ratio as of December 31, 2019

question 218

Multiple Choice

Phillips, Inc. had the following financial data for the year ended December 31, 2019. $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 44,000 \\\hline \text { Cash equivalents } & 79,000 \\\hline \text { Long term investments } & 55,000 \\\hline \text { Total current liabilities } & 145,000 \\\hline\end{array}$$ What is the cash ratio as of December 31, 2019, for Phillips, Inc.? (Round your answer to two decimal
Places.)

• A) 0.30
• B) 0.38
• C) 0.49
• D) 0.85

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Definitions:

Afferent Arteriole

A small artery that leads toward the capillaries of the glomerulus in the kidney, playing a key role in the filtration of blood.

Efferent Arteriole

A small blood vessel that carries blood away from the glomerulus of the kidney to the peritubular capillaries, playing a key role in regulating blood pressure and filtration rate in the kidney.

Renal Vein

A vein that carries purified blood away from the kidneys back to the heart.

Nucleic Acid Metabolism

The set of biochemical processes responsible for the synthesis, degradation, and regulation of nucleic acids (DNA and RNA) in living organisms.