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What is smith company acid-test ratio

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At year end, Smith Company has Cash of $12,000, current Accounts Receivable of $24,000, Inventory of $3,000, and Prepaid Expenses totalling $5,000. Liabilities of $20,000 must be paid next year.

Problem 1: What is Smith Company's acid-test ratio?

Option 1: 1.80
Option 2: 2.20
Option 3: 0.60
Option 4: 1.95

Reference no: EM132913884

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