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Question
Based on the following data, what is the quick ratio (rounded to one decimal place)?
Accounts payable $ 30,000
Accounts receivable 60,000
Accrued liabilities 5,000
Cash 30,000
Intangible assets 50,000
Inventory 69,000
Long-term investments 80,000
Long-term liabilities 100,000
Marketable securities 30,000
Fixed assets 670,000
Prepaid expenses 1,000
a. 3.4
b. 3.0
c. 2.2
d. 1.8
Answer
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