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

question 81

Multiple Choice

Excerpts from Tigner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,230 and the cost of goods sold was $820.
-The current ratio at the end of Year 2 is closest to:

• A)1.12
• B)1.54
• C)0.35
• D)1.00

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Definitions:

Consumers

Individuals or organizations that use economic goods and services generated within the economy, directly affecting demand trends and market dynamics.

Corporate Taxes

Taxes levied by governments on the income or profit of corporations and businesses.

Profits

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Firms

Business organizations involved in the production and sale of goods and services.