Question
Questions 1 A business's statement of financial position shows the following relationships: Current ratio = 3:1 Acid test ratio = 2.5:1 Current assets to non-current
Questions 1
A business's statement of financial position shows the following relationships:
Current ratio = 3:1
Acid test ratio = 2.5:1
Current assets to non-current assets = 1:2
The total assets of the business are 27 million.
What is the value of the inventories as shown on the statement of financial position? If necessary, round to the first decimal point.
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
