Kingsbury Associates Has Current Assets as Follows: Cash $3,000

question 16

Multiple Choice

Kingsbury Associates has current assets as follows: Cash $3,000
Accounts receivable $4,500
Inventories $8,000
If Kingsbury has a current ratio of 3.2, what is its quick ratio?

• A) 2.07
• B) 1.55
• C) 0.48
• D) 0.96

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Definitions:

Energy Production

The biological processes by which cells generate energy, primarily through the conversion of nutrients into ATP.

Amino Acids

Organic molecules that serve as the building blocks of proteins, consisting of an amino group and a carboxyl group.

Citric Acid Cycle

A key metabolic pathway that breaks down carbohydrates, fats, and proteins into carbon dioxide and water while generating energy-rich molecules like ATP.

NADH

Nicotinamide adenine dinucleotide (reduced form) is a coenzyme found in all living cells, involved in redox reactions, carrying electrons from one reaction to another.