Quick Assets Divided by Current Liabilities Is The

question 102

Multiple Choice

Quick assets divided by current liabilities is the:

• A) Acid-test ratio.
• B) Current ratio.
• C) Working capital ratio.
• D) Current liability turnover ratio.
• E) Quick asset turnover ratio.

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Definitions:

1040A

A simplified version of the IRS Form 1040 used for individual income tax filing in the United States, applicable for taxpayers with straightforward tax situations.

Married Taxpayer Filing Separately

A tax filing status for married couples who choose to file their tax returns separately.

Itemized Deductions

Expenses allowed by the IRS that can be deducted from adjusted gross income to reduce taxable income, including charitable donations, medical expenses, and mortgage interest.

Standard Deduction

The portion of income not subject to tax, set by the IRS, that can be used to reduce your taxable income if you choose not to itemize deductions.