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    Using Financial Accounting Study Set 1
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    Exam 9: Current Liabilities, Contingencies, and the Time Value of Money
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    Long-Term Assets Are $5,000, Current Liabilities Are $700, and Long-Term
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Long-Term Assets Are $5,000, Current Liabilities Are $700, and Long-Term

Question 161

Question 161

Multiple Choice

Long-term assets are $5,000, current liabilities are $700, and long-term liabilities are $3,000. If the current ratio is 3 to 1, then current assets are


A) $4,300
B) $2,100
C) $9,000
D) $6,900

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