Question
25) Young Company has the following assets and liabilities: ASSETS Cash $35,000 Accounts receivable 15,000 Inventory 30,000 Equipment 50,000 LIABILITIES Current portion of long-term debt
25) Young Company has the following assets and liabilities:
| ASSETS | |
| Cash | $35,000 |
| Accounts receivable | 15,000 |
| Inventory | 30,000 |
| Equipment | 50,000 |
| LIABILITIES | |
| Current portion of long-term debt | 10,000 |
| Accounts payable | 2,000 |
| Long-term debt | 25,000 |
Which of the following is the least desirable quick ratio?
a.0.50
b.1.20
c.0.95
d.1.00
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
