Jones Corp

Multiple Choice

Jones Corp.reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet.The current assets consisted of $62,000 Cash;$43,000 Accounts Receivable;and $88,000 of Inventory.The acid-test (quick) ratio is:

A) 1.4:1.
B) 0.77:1.
C) 0.54:1.
D) 1:1.
E) 0.64:1.