A3 Dennisport Corporation has an acid - test ratio of 2.5. It has current liabilities of $40,000 and noncurrent assets of $70,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaidexpenses, and inventory. If Dennisport's current ratio is 3.1, its inventory and prepaid expenses must be: Multiple Choice $12, 400 $24,000 $30,000 $40,000

Financial Ratio -A financial ratio, also known as an accounting ratio, expresses the relative…

Dennisport Corporation has an acid - test ratio of 2.5. It has current liabilities of $40,000 and noncurrent assets of $70,000. The corporation's current assets consist of cash, marketable securities, accounts re expenses, and inventory. If Dennisport's current ratio is 3.1, its inventory and prepaid expenses must be: Multiple Choice $12, 400 $24,000 $30,000 $40,000

Dennisport Corporation has an acid - test ratio of 2.5. It has current liabilities of $40,000 and noncurrent assets of $70,000. The corporation's current assets consist of cash, marketable securities, accounts re expenses, and inventory. If Dennisport's current ratio is 3.1, its inventory and prepaid expenses must be: Multiple Choice $12, 400 $24,000 $30,000 $40,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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