Solved

Our Harmony Lists Current Assets of $600,000 on Its Balance

Question 81

Multiple Choice

Our Harmony lists current assets of $600,000 on its balance sheet.It lists current liabilities of 4288,000.Its current ratio is 2.08.This means:


A) For every $1.00 of current assets it has $2.08 of current liabilities.
B) For every $1.00 of buildings and equipment it has $2.08 of debt
C) For every $1.00 of current liabilities it has $2.08 of current assets.
D) For every $1.00 of accounts payable it has $2.08.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents