A Company Has $120,000 in Current Assets; $550,000 in Total

question 164

Multiple Choice

A company has $120,000 in current assets; $550,000 in total assets; $90,000 in current liabilities,and $110,000 in total liabilities.Calculate the current ratio of the company.(Round your answer to two decimal places.)

• A) 1.33
• B) 1.72
• C) 1.75
• D) 1.09

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Definitions:

Yeast

A group of unicellular fungi that are important in the fermentation process and as model organisms in biological research.

Zygospores

Thick-walled resting spores formed by the fusion of cells from different mating types of certain fungi and algae, leading to genetic recombination and dormancy.

Dikaryotic Cell

A cell having two separate nuclei, each with one set of chromosomes, often found in the fungal life cycle during sexual reproduction.

Diploid Zygote

A fertilized egg cell that possesses two complete sets of chromosomes, one from each parent, resulting in a diploid organism.