Based on the below figures, what is the quick ratio?
$\begin{array}{lr}
&£ \
\text { Trade payables } & 35,000 \
\text { Trade receivables } & 28,000 \
\text { Cash and cash equivalents } & 15,000 \
\text { Taxation repayable to the company } & 12,000 \
\text { Inventory } & 14,000 \
\text { Accruals } & 6,000
\end{array}$

Question

Quizplus · Accepted Answer

The quick ratio is calculated as (Trade receivables + Cash and cash equivalents + Taxation repayable) / (Trade payables + Accruals). This equals (28,000 + 15,000 + 12,000) / (35,000 + 6,000) = 55,000 / 41,000 = 1.34:1.

Based on the Below Figures, What Is the Quick Ratio