Question
Erastic Corporation has $21,000 in cash, $11,500 in marketable securities, $44,500 in account receivable, $54,000 in inventories, and $49,000 in current liabilities. The corporation's current
Erastic Corporation has $21,000 in cash, $11,500 in marketable securities, $44,500 in account receivable, $54,000 in inventories, and $49,000 in current liabilities. The corporation's current assets consist of cash, marketable securities, accounts receivable, and inventory. The corporation's acid-test ratio is closest to: 1.57 0.91 2.67 1.34
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Advanced Financial Accounting
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
3rd Edition
0070054142, 978-0070054141
