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Erastic Corporation has $28,000 in cash, $15,000 in marketable securities, $55,000 in account receivable, $68,000...

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Question

Accounting

Erastic Corporation has $28,000 in cash, $15,000 in marketable securities, $55,000 in account receivable, $68,000 in inventories, and $56,000 in current liabilities. The corporations current assets consist of cash, marketable securities, accounts receivable, and inventory. The corporations acid-test ratio is closest to:

Multiple Choice

  • 0.98

  • 1.48

  • 1.75

  • 2.96

Answer & Explanation Solved by verified expert
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