FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Selected information from the statement of financial position (balance sheet) of Daisy Dollar, a small discount store, (dollar amounts are in thousands) below. Cash 85 Account receivable 145 Inventory 290 Total assets 950 Current liabilities 400 Noncurrent liabilities 425 What is the current ratio? a) 0.36 to 1 b) 0.58 to 1 c) 0.73 to 1 d) 1.3 to 1
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Transcribed Image Text:Selected information from the statement of financial position (balance sheet) of Daisy Dollar, a small discount store, (dollar amounts are in thousands) below. Cash 85 Account receivable 145 Inventory 290 Total assets 950 Current liabilities 400 Noncurrent liabilities 425 What is the current ratio? a) 0.36 to 1 b) 0.58 to 1 c) 0.73 to 1 d) 1.3 to 1
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