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What is the current ratio and acid-test ratio

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Problem 1: A company has current assets of $90,000 (of which $36,000 is inventory and prepaid items) and current liabilities of $36,000. What is the current ratio? What is the acid-test ratio? If the company borrows $16,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be?

Reference no: EM132687632

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