The Crafter Company Had the Following Assets and Liabilities as of December

question 169

Multiple Choice

The Crafter Company had the following assets and liabilities as of December 31, 2012: Determine the quick ratio for the end of the year (rounded to one decimal point) .

• A) 6.7
• B) 13.0
• C) 4.2
• D) 3.5

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Definitions:

CPI

The Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy.

Bureau of Labor Statistics

A federal agency in the United States dedicated to gathering and examining data on job market trends, conditions of employment, and variations in pricing.

Consumer's Budget

The total amount of income or resources available for an individual or household to allocate across various goods and services.