Excerpts from Deandrade Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,360 and the cost of goods sold was $830.
-The acid-test ratio at the end of Year 2 is closest to:
A) 0.89
B) 1.21
C) 0.82
D) 0.55

Question

Excerpts from Deandrade Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,360 and the cost of goods sold was $830.
-The acid-test ratio at the end of Year 2 is closest to:
A) 0.89 
B) 1.21 
C) 0.82 
D) 0.55

Quizplus · Accepted Answer

The Answer of Excerpts from Deandrade Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,360 and the cost of goods sold was $830.
-The acid-test ratio at the end of Year 2 is closest to:
A) 0.89 
B) 1.21 
C) 0.82 
D) 0.55

Excerpts from Deandrade Corporation's Most Recent Balance Sheet Appear Below