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Question
Young Company has the following assets and liabilities:
Assets
Cash $35,000
Accounts receivable 15,000
Inventory 30,000
Equipment 50,000
Liabilities
Current portion of long-term debt $10,000
Accounts payable 2,000
Long-term debt 25,000
Determine the quick ratio (rounded to one decimal place).
a. 6.7
b. 13.0
c. 4.2
d. 3.5
Answer
This answer is hidden. It contains 1 characters.
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