Author Question: You own a business that has current liabilities of 117,300; cash in the amount 5,600; securities ... (Read 121 times)

kaid0807 · **on:** Jun 24, 2018

You own a business that has current liabilities of 117,300; cash in the amount 5,600; securities valued at 98,400; and accounts receivable of 85,900. Calculate the acid test ratio. (Round to the nearest hundredth)
A) 1.56:1
B) 1.62:1
C) 1.89:1
D) 2.02:1

Question 2

Solve for the rate, rounding to tenths if necessary. What is the rate if the base is 123,200 and the portion is 618,545?