12. An acid-test or quick ratio of 1.0 is considered less risky than a ratio...
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12. An acid-test or quick ratio of 1.0 is considered less risky than a ratio of 0.50. TRUE FALSE
13. Ambers Clothing Store reported the following at June 30, 2018: Cash $ 79,000 Accounts Receivable, net: June 30, 2018 June 30, 2017 45,000 53,000 Accounts Payable 55,000 Cost of Goods Sold 288,250 Merchandise Inventory June 30, 2018 June 30, 2017 70,000 90,000 Net Credit Sales Revenue 480,000 Long-Term Assets 220,000 Long-Term Liabilities 140,000 Other Current Assets 150,000 Other Current Liabilities 130,000 Short-term Investments 40,000 Compute Ambers acid-test ratio for 2018. Show your computations. (Round to 2 decimals.)
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