1.10 The current assets of Ascot Stores on 31 December 2014 amounted to R350 000 (including inventories valued at R200 000). The current liabilities amounted to R170 000 on the same date. Which one of the following statements is true (if answers to the ratios are rounded off to 2 decimal places)? The acid test ratio is 0.88:1. Ascot Stores may have difficulty paying its short-term debts on time. The acid test ratio is 0.88:1. Ascot Stores may have difficulty paying its all its debts on time. The current ratio is 2.06:1. The liquidity position is unsatisfactory. A B D None of the above