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Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000
| Privett Company | |
| Accounts payable | $ 30,000 |
| Accounts receivable | 35,000 |
| Accrued liabilities | 7,000 |
| Cash | 25,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 100,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 20,000 |
| Property, plant, and equipment | 400,000 |
| Prepaid expenses | 2,000 |
Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
a.1.1
b.1.7
c.1.0
d.2.9
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
10th Edition
0131457349, 978-0131457348
