Nunn Company reported the following data: What was the current ratio?
A)0.5 to 1
B)0.75 to 1
C)1.5 to 1
D)2.5 to 1

Name: Nunn Company reported the following data: What was the current ratio? A)0.5 to 1 B)0.75 to 1 C)1.5 to 1 D)2.5 to 1
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Question

Quizplus · Accepted Answer

To find the current ratio, we divide current assets by current liabilities. 
Current ratio = Current assets ÷ Current liabilities 
Plugging in the values provided: 
Current ratio = $150,000 ÷ $100,000 = 1.5 to 1. Therefore, the correct answer is C - 1.5 to 1.

Nunn Company Reported the Following Data: What Was the Current