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Based on the Above Data, What Is the Quick Ratio

Question 85

Multiple Choice

$30,000 Accounts payable 65,000 Accounts receivable 7,000 Acculud liabilities 20,000 Cash 40,000 Intangible assets 72,000 Inventory 100,000 Long-term investments 75,000 Long-term liabilities 36,000 Marketable securities 20,000 Notes payable (short-term)  625,000 Property, plant, and equipment 2,000 Prepaid expenses \begin{array}{ll}\$ 30,000 & \text { Accounts payable } \\65,000&\text { Accounts receivable } \\7,000 & \text { Acculud liabilities } \\20,000 & \text { Cash } \\40,000 & \text { Intangible assets } \\72,000 & \text { Inventory } \\100,000 & \text { Long-term investments } \\75,000 & \text { Long-term liabilities } \\36,000 & \text { Marketable securities } \\20,000 & \text { Notes payable (short-term) } \\625,000 & \text { Property, plant, and equipment } \\2,000 & \text { Prepaid expenses }\end{array} Based on the above data, what is the quick ratio, rounded to one decimal point?


A) 2.4
B) 3.4
C) 2.1
D) 1.5

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