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A Company's Quick Assets Are $147,000 and Its Current Liabilities

Question 84

True/False

A company's quick assets are $147,000 and its current liabilities are $143,000. This company's acid-test ratio is 1.03.
Acid-Test Ratio = Quick Assets/Current Liabilities
Acid-Test Ratio = $147,000/$143,000 = 1.03

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