A company with a quick ratio of 1.23 means that the company:
A) has $1.00 in quick assets for every $1.23 in current liabilities.
B) has $1.23 in quick assets for every $1.00 in current liabilities.
C) could not pay off all of its current liabilities using quick assets.
D) would have to use inventory to help pay off its current liabilities.
Correct Answer:
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