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Calculate its quick ratio

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Question - A company has Cash of $20,000, Accounts Receivable of $15,000, Prepaid Insurance of $1,000, Inventory of $12,000, Long-Term Assets of $10,000, Accounts Payable of $16,000 and a Long-Term Bank Loan of $50,000. Calculate its quick ratio.

Reference no: EM133177748

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