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Excerpts from Shelton Corporation's Most Recent Balance Sheet Appear Below

Question 44

Multiple Choice

Excerpts from Shelton Corporation's most recent balance sheet appear below: Excerpts from Shelton Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,320 and the cost of goods sold was $890. -The acid-test ratio at the end of Year 2 is closest to: A) 1.55 B) 2.19 C) 1.81 D) 1.17 Sales on account in Year 2 amounted to $1,320 and the cost of goods sold was $890.
-The acid-test ratio at the end of Year 2 is closest to:


A) 1.55
B) 2.19
C) 1.81
D) 1.17

Correct Answer:

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