Reference no: EM133010351
Problem 1: What is the acid-test ratio for the following data? Cash - $34,000; marketable securities - $16,000; accounts and notes receivable, net - $46,000; merchandise inventory - $61,000; prepaid expenses - $3,000; accounts and notes payable, short term - $64,000; accrued liabilities - $16,000.
Option 1: 1:2
Option 2: 2:1
Option 3: 1.2:1
Option 4: 3:1
Option 5: 4:1
Problem 2: Any reputable company has a cash flow liquidity ratio of greater than 1.0.
True
False
Problem 3: Which of the following transactions would result in an increase in the current ratio assuming that the ratio presently is 2:1?
Option 1: Customer paid her accounts receivable.
Option 2: Merchandise was purchased on account.
Option 3: Paid a long-term debt.
Option 4: None of the above transactions would increase the present current ratio.
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