A company has $120,000 in current assets; $550,000 in total assets; $90,000 in current liabilities,and $110,000 in total liabilities.Calculate the current ratio of the company.(Round your answer to two decimal places.)
A) 1.33
B) 1.72
C) 1.75
D) 1.09

Question

Quizplus · Accepted Answer

A) Current ratio = Total current assets / Total current liabilities
Current ratio = $120,000 / $90,000 = 1.33

A Company Has $120,000 in Current Assets; $550,000 in Total