Table 1

-Based on the information in Table 1, the current ratio is [blank].
A)2.97
B)1.46
C)2.11
D)2.23

Name: Table 1 -Based on the information in Table 1, the current ratio is [blank]. A)2.97 B)1.46 C)2.11 D)2.23
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Question

Table 1
 
-Based on the information in Table 1, the current ratio is [blank].
A)2.97 
B)1.46 
C)2.11 
D)2.23

Quizplus · Accepted Answer

The current ratio is calculated by dividing current assets by current liabilities. From Table 1, current assets are $2,970,000 and current liabilities are $1,000,000. Therefore, the current ratio is $2,970,000 / $1,000,000 = 2.97.

Table 1 -Based on the Information in Table 1, the Current Ratio