Multiple Choice
Johnson Inc. and Thompson Inc. have identical accounting systems. Both have a current ratio of 2.3, but, Johnson has a quick ratio of 1.1 while Thompson has a quick ratio of 1.3. This means:
A) Thompson has more items in inventory than Johnson.
B) Johnson has more items in inventory than Thompson.
C) They have different amounts of amortization.
D) Johnson has a higher value of inventory.
Correct Answer:
Verified
Correct Answer:
Verified
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