Essay
Howard Corporation reported a quick ratio of 1.75, current assets of $50,000 and a current (working capital) ratio of 2.
(a) The total amount of quick assets was $_______.
(b) What is another name for the quick ratio? ___________
(c) Describe what type of assets are considered quick assets and give some examples.
(d) How does the quick ratio compare to the current ratio?
Correct Answer:
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(a) $50,000/2 = $25,000 current liabilit...View Answer
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