Fundamental Accounting Principles Study Set 5
Quiz 4: Completing the Accounting Cycle
The current ratio is computed by dividing current liabilities by current assets.
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The current ratio is used to help assess a company's ability to pay its debts in the near future.
Harry's Bikes' current assets are $400 million and its current liabilities are $250 million. Its current ratio is 0.63.
A company has current assets of $15,000 and current liabilities of $9,500. Its current ratio is 1.6.
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