Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet.
- The current assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is:
A) 1.4:1.
B) 0.77:1.
C) 0.64:1.
D) 0.54:1.
E) 1:1.

Question

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The Answer of Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet.
- The current assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is:
A) 1.4:1.
B) 0.77:1.
C) 0.64:1.
D) 0.54:1.
E) 1:1.