Excerpts from Colter Corporation's Most Recent Balance Sheet Appear Below

question 129

Multiple Choice

Excerpts from Colter Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The current ratio at the end of Year 2 is closest to:

• A)0.32
• B)0.38
• C)1.25
• D)1.20

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Definitions:

Down Syndrome

A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by developmental and intellectual delays.

Phenylketonuria

A genetic disorder characterized by the body's inability to break down the amino acid phenylalanine, leading to harmful levels in the body.

Phenylalanine

An essential amino acid important in the biosynthesis of proteins.

Recessive Gene

A type of gene that expresses its traits only when paired with an identical or similar gene, as opposed to a dominant gene that can express its traits when paired with a different gene.