Calculate the Current Ratio Using the Following Information: (Round Your

question 11

Multiple Choice

Calculate the current ratio using the following information: (Round your answer to two decimal places.) $$\begin{array} { l l } \text { Cash } & \$ 6,000 \\\text { Accounts Receivable } & 1,300 \\\text { Prepaid Rent } & 1,100 \\\text { Larid } & 20,000 \\\text { Equipment } & 4,000 \\\text { Accurnulated Depreciation } & 1,200 \\\text { Accounts Payable } & 3,000 \\\text { Salaries Payable } & 1,000 \\\text { Notes Payable-long term } & 9,000\end{array}$$

• A) 2.10
• B) 2.80
• C) 1.53
• D) 1.83

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Definitions:

Production Orientation

A marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs.

Sales Orientation

A business approach that focuses on selling as many products as possible, prioritizing sales volume over the satisfaction or needs of the customer.

Competitors

Companies or individuals that offer similar products or services within the same market, vying for the same customer base.

Marketing Concept

The business ideology that focuses on identifying and meeting the needs and wants of customers through the product or service being sold.