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  3. cash is $15,000; prepaid expenses are $5,000; net

Cash is $15,000; prepaid expenses are $5,000; net income is $60,000; current liabilities are $50,000;...

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Question

Accounting

Cash is $15,000; prepaid expenses are $5,000; net income is $60,000; current liabilities are $50,000; accounts receivable are $15,000; and merchandise inventory is $10,000. The current ratio is

Select one:

a. 0.60

b. 0.80

c. 0.90

d. 2.10

Answer & Explanation Solved by verified expert
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