Solved

The Following Information Is from the Annual Report of Thunderstruck

Question 17

Multiple Choice

The following information is from the annual report of Thunderstruck Ltd:
Statement of financial position of Thunderstruck Ltd as at 31 December 201X
 The following information is from the annual report of Thunderstruck Ltd: Statement of financial position of Thunderstruck Ltd as at 31 December 201X   Income statement extract of Thunderstruck Ltd for the year ended 31 December 201X  \begin{array} { l r }  \text { Revenue } & 250 \\ \text { Gross profit } & 75 \\ \text { Operating profit } & 45 \\ \text { Profit for the period } & 25 \end{array}  From the information provide above,calculate the current ratio A)  1.48:1 B)  2.44:1 C)  2:1 D)  1.77:1
Income statement extract of Thunderstruck Ltd for the year ended 31 December 201X
 Revenue 250 Gross profit 75 Operating profit 45 Profit for the period 25\begin{array} { l r } \text { Revenue } & 250 \\\text { Gross profit } & 75 \\\text { Operating profit } & 45 \\\text { Profit for the period } & 25\end{array}
From the information provide above,calculate the current ratio


A) 1.48:1
B) 2.44:1
C) 2:1
D) 1.77:1

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions