Essay
Madison Company has current assets, current liabilities, and long-term liabilities of $8,000, $4,000, and $6,000, respectively.Within these amounts, inventory was $2,000, receivables were $2,000, cash was $4,000, and payables were $1,000.Calculate Madison's quick ratio.What information does this provide?
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Quick ratio = Quick assets / Current lia...View Answer
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Correct Answer:
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