Data from Dunshee Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,645 and the cost of goods sold was $1,015.The acid-test (quick) ratio at the end of Year 2 is closest to:
A) 2.07
B) 1.59
C) 1.49
D) 1.25

Question

Data from Dunshee Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,645 and the cost of goods sold was $1,015.The acid-test (quick) ratio at the end of Year 2 is closest to:
A) 2.07 
B) 1.59 
C) 1.49 
D) 1.25

Quizplus · Accepted Answer

The Answer of Data from Dunshee Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,645 and the cost of goods sold was $1,015.The acid-test (quick) ratio at the end of Year 2 is closest to:
A) 2.07 
B) 1.59 
C) 1.49 
D) 1.25

Data from Dunshee Corporation's Most Recent Balance Sheet Appear Below