James Has a Business Mowing Lawns

question 26

Multiple Choice

James has a business mowing lawns.On 31 December 2016,he has a utility truck worth $7000,a mower worth $250 and an edger worth $110.Fuel on hand cost $70.Customers owe him $360 and he owes his fuel supplier $90.He owes his sister $5000,which is a long-term loan,and he has $110 in his business bank account.
- What is James's current ratio?

• A) 4.2:1
• B) 4.7:1
• C) 5:1
• D) 6:1

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Definitions:

Win-Win Attitude

A mindset focused on finding solutions or negotiations that benefit all parties involved, aiming for mutual satisfaction.

Win-Win Attitude

An approach to conflict resolution and negotiation where all parties seek solutions that satisfy everyone's interests, leading to mutual benefit.

Status Differentials

The varying levels of prestige, respect, and authority among roles or positions within a group or organization, which can affect interactions and organizational dynamics.

Causes of Problems

The underlying factors or reasons that lead to issues or difficulties within an organization or any other context.