Use the Information Below for Harding Company to Answer the Questions

question 165

Multiple Choice

Use the information below for Harding Company to answer the questions that follow.
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$\text { Harding Company }$
$\begin{array}{lr}\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 65,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 30,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 110,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 30,000 \\\text { Property, plant, and equipment } & 625,000 \\\text { Prepaid expenses } & 2,000\end{array}$
-Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point?

• A) 2.7
• B) 2.6
• C) 1.7
• D) 0.9

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Definitions:

Temporary Assistance

Governmental programs designed to provide financial aid or support to individuals or families in need for a limited period of time.

Needy Families

Families that lack the financial resources to meet basic living expenses such as food, housing, and healthcare.

Lifetime Limit

The maximum duration or amount of something that is allowed or tolerated within one's lifetime.

Caste System

A traditional form of social stratification found in some countries, notably India, characterized by hereditary transmission of lifestyle, occupation, and social status.