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Jones Corp. reported current assets of $199,000 and current liabilities of $140,500 on its most recent balance sheet. The current assets consisted of $60,400 Cash;
Jones Corp. reported current assets of $199,000 and current liabilities of $140,500 on its most recent balance sheet. The current assets consisted of $60,400 Cash; $41,200 Accounts Receivable; and $97,400 of Inventory. The acid-test (quick) ratio is: Multiple Choice 0.51:1. 1.4:1. 0.72: 1
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