Use the Information Below for Privett Company to Answer the Questions

question 20

Multiple Choice

Use the information below for Privett Company to answer the questions that follow.
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$$\begin{array}{l}\text { Privett Company }\\\begin{array} { l r } \text { Accounts payable } & \$ 30,000 \\\text { Accounts receivable } & 35,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 25,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 100,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 20,000 \\\text { Property, plant, and equipment } & 400,000 \\\text { Prepaid expenses } & 2,000\end{array}\end{array}$$
-Based on the data for Privett Company, what is the amount of quick assets?

• A) $168,000
• B) $96,000
• C) $60,000
• D) $61,000

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Definitions:

Fossil Fuels

Natural fuels formed from the remains of ancient plants and animals, such as coal, oil, and natural gas.

Amount of Supply

The total quantity of a particular good or service available for purchase at any given time.

Nonrenewable Sources

Energy sources that cannot be replenished in a short period, such as coal, oil, and natural gas.

Renewable Sources

Energy sources that are replenished naturally and sustainably, such as wind, solar, and hydroelectric power.