Based on the Following Data, What Is the Quick Ratio

question 33

Multiple Choice

Based on the following data, what is the quick ratio, rounded to one decimal place? $\begin{array}{ll}\$ 32,000 & \text { Accounts payable } \\64,000 & \text { Accounts receivable } \\7,000 & \text { Accrued liabilities } \\20,000 & \text { Cash } \\40,000 & \text { Intangible assets } \\72,000 & \text { Inventory } \\100,000 & \text { Long-term investments } \\75,000 & \text { Long-term liabilities } \\35,000 & \text { Marketable securities } \\25,000 & \text { Notes payable (short-term) } \\625,000 & \text { Property, plant, and equipment } \\2,000 & \text { Prepaid expenses }\end{array}$

• A) 3.2
• B) 2.1
• C) 1.9
• D) 1.4

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