Data from Adamis Corporation's Most Recent Balance Sheet Appear Below

question 147

Multiple Choice

Data from Adamis Corporation's most recent balance sheet appear below: $\begin{array}{lr}\text {Cash }&\$ 10,000 \\\text {Marketable securities. }&\$ 24,000 \\\text {Accounts receivable. }&\$ 40,000 \\\text {Inventory }&\$ 55,000 \\\text {Prepaid expenses. }&\$ 10,000 \\\text {Current liabilities. }&\$ 104,000\end{array}$

The company's acid-test ratio is closest to:

• A)0.33
• B)0.71
• C)0.81
• D)0.10

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