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A company has a current ratio of 2.0 and current assets of $550,000. What is its current liabilities balance? Multiple Choice 2.0 $275,000 $550,000 $1,100,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A company has a current ratio of 2.0 and current assets of $550,000. What is its current liabilities balance?
Multiple Choice
2.0
$275,000
$550,000
$1.100,000

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