A Company Has Current Assets of $77,000,long-Term Assets of $150,000,current

question 112

Multiple Choice

A company has current assets of $77,000,long-term assets of $150,000,current liabilities of $44,000,and long-term liabilities of $35,000.The current ratio is:

• A)0.81.
• B)3.46.
• C)1.75.
• D)2.20.

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Definitions:

Credits

Accounting entries that represent an increase in liabilities or equity, or a decrease in assets, typically reflecting income or gains.

Transactions In QBO

Financial activities recorded within QuickBooks Online, such as sales, purchases, and payments.

Chart Of Accounts

A structured list of a business's financial accounts, designed for easy management and reporting of its financial activities.

Company Settings

The configuration options within business software that customize aspects like company details, preferences, and operational parameters.