Multiple Choice
Use the following information for questions.
The following data are provided:
Additional information:
Depreciation included in cost of goods sold and operating expenses is $305,000.On May 1, 2011, 15,000 ordinary shares were issued.The preference share are cumulative.The preference dividends were not declared during 2011.
-At December 31, 2011, the acid-test ratio was
A) 775 ÷ 325.
B) 775 ÷ 540.
C) 1,050 ÷ 400.
D) 1,425 ÷ 325.
Correct Answer:
Verified
Correct Answer:
Verified
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