You Are Calculating the Quick Ratio for the General Fund

question 15

Multiple Choice

You are calculating the quick ratio for the General Fund.The General Fund balance sheet contains the following captions: (1) cash; (2) cash equivalents; (3) taxes receivable; (4) inventory; (5) prepaid items;and (6) due from other funds.Which of these accounts will enter into the calculation?

• A)(1)and (2)
• B)(1), (2),and (3)
• C)(1), (2), (3),and (6)
• D)all six

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