$1$

Which of the following is$$not$$a current asset?

Inventory

Prepaid Insurance

Fixtures

$2$

Current asset MINUS current liabilities is the

Current Ratio

Net Worth

Working Capital

$3$

Current assets DIVIDED BY current liabilities is the

Current Ratio

Net Worth Ratio

Working Capital

$4$

The quick ratio EXCLUDES which of the following?

Accounts Receivable

Inventory

Cash

Use the following information to answer items $57$:

At December $31$ a company$$s records show the following information:

$5$

The company's working capital is

$$60,000$

$$66,000$

$$196,000$

$6$

The company's current ratio is

$1\mathrm{.}0$ : $1$

$2\mathrm{.}0$ : $1$

$2\mathrm{.}1$ : $1$

$7$

The company's quick ratio is

$0\mathrm{.}7$ : $1$

$1\mathrm{.}0$ : $1$

$2\mathrm{.}0$ : $1$

Use the following information to answer items $811$:

For its most recent year a company had$$Sales$($all on credit$)$ of $$830,000$ and$$Cost of Goods Sold$$of $$525,000.$ At the beginning of the year its$$Accounts Receivable$$were $$80,000$ and its$$Inventory$$was $$100,000.$ At the end of the year its Accounts Receivable were $$86,000$ and its Inventory was $$110,000.$

$8$

The inventory turnover ratio for the year was

$4\mathrm{.}8$

$5$

$7\mathrm{.}9$

$9$

The accounts receivable turnover ratio for the year was

$6\mathrm{.}3$

$7\mathrm{.}5$

$10$

$10$

On average how many days of sales were in Accounts Receivable during the year?

$27$

$37$

$49$

$11$

On average how many days of sales were in Inventory during the year?

$14$

$46$

$73$Use the following information to answer items $5-7$ :

At December $31$ a company's records show the following information: