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1. Jones Corp. reported

1. Jones Corp. reported current assets of $183,000 and current liabilities of $126,000 on its most recent balance sheet. The current assets consisted of $64,000 Cash; $46,000 Accounts Receivable; and $73,000 of Inventory. The acid-test (quick) ratio is:

a) 0.87:1.

b) 1.4:1.

c) 1:1.

d) 0.60:1.

e) 0.58:1.

2. A corporation reported cash of $28,000 and total assets of $466,000 on its balance sheet. Its common-size percent for cash equals:

16.64%.

6.01%.

100.00%.

60.10%.

1664%.

 

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