The Following Balance Sheet Information Is Provided for Duke Company

question 32

Multiple Choice

The following balance sheet information is provided for Duke Company for Year 2:

What is the company's current ratio? (Round your answer to 2 decimal places. )

• A)2.53
• B)1.16
• C)1.31
• D)3.79

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Definitions:

Lowest Terms

Refers to a fraction simplified to its smallest possible numerator and denominator without changing its value.

Improper Fractions

Fractions where the numerator (top number) is greater than or equal to the denominator (bottom number), resulting in a value greater than or equal to one.

Pounds

A unit of currency in the United Kingdom and other territories, symbolized as £.

Lettuce

A leafy green vegetable, commonly used in salads and sandwiches, belonging to the daisy family.