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Data from Fontecchio Corporation's most recent balance sheet appear below: Cash $ 47,000 Marketable securities $ 49,000 Accounts receivable $ 50,640 Short-term notes receivable $
Data from Fontecchio Corporation's most recent balance sheet appear below:
| Cash | $ | 47,000 | |
| Marketable securities | $ | 49,000 | |
| Accounts receivable | $ | 50,640 | |
| Short-term notes receivable | $ | 0 | |
| Inventory | $ | 85,000 | |
| Prepaid expenses | $ | 42,000 | |
| Current liabilities | $ | 312,000 | |
The corporation's acid-test ratio is closest to:
-
0.31
-
0.16
-
0.47
-
0.42
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
