Based on the following data, what is the quick ratio, rounded to one decimal point

$$\begin{array} { l r }
\text { Accounts payable } & 30,000 \
\text { Accounts receivable } & 60,000 \
\text { Accrued liabilities } & 5,000 \
\text { Cash } & 30,000 \
\text { Intangible assets } & 50,000 \
\text { Inventory } & 69,000 \
\text { Long-term investments } & 80,000 \
\text { Long-term liabilities } & 100,000 \
\text { Marketable securities } & 30,000 \
\text { Fixed assets } & 670,000 \
\text { Prepaid expenses } & 1,000
\end{array}$$
A) 3.4
B) 3.0
C) 2.2
D) 1.8

Question

Based on the following data, what is the quick ratio, rounded to one decimal point
 
 $$\begin{array} { l r } 
\text { Accounts payable } & 30,000 \
\text { Accounts receivable } & 60,000 \
\text { Accrued liabilities } & 5,000 \
\text { Cash } & 30,000 \
\text { Intangible assets } & 50,000 \
\text { Inventory } & 69,000 \
\text { Long-term investments } & 80,000 \
\text { Long-term liabilities } & 100,000 \
\text { Marketable securities } & 30,000 \
\text { Fixed assets } & 670,000 \
\text { Prepaid expenses } & 1,000
\end{array}$$ 
A) 3.4
B) 3.0
C) 2.2
D) 1.8

Quizplus · Accepted Answer

Quick ratio = (Cash + Marketable securities + Accounts receivable) / (Accounts payable + Accrued liabilities)= (30,000 + 30,000 + 60,000) / (30,000 + 5,000)= 120,000 / 35,000= 3.43 (rounded to one decimal point)

Based on the Following Data, What Is the Quick Ratio