Data from Fontecchio Corporation's Most Recent Balance Sheet Appear Below

Data from Fontecchio Corporation's most recent balance sheet appear below: $\begin{array}{lr}\text {Cash. }&\$18,000\\\text {Marketable securities }&\$24,000\\\text {Accounts receivable. }&\$39,000\\\text {Short-term notes receivable. }&\$0\\\text {Inventory. }&\$60,000\\\text {Prepaid expenses }&\$14,000\\\text {Current liabilities. }&\$120,000\\\end{array}$
The corporation's acid-test ratio is closest to:

A) 0.35
B) 0.15
C) 0.68
D) 0.79

Correct Answer:

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