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sladkih [1.3K]
3 years ago
9

Duke’s Garage has cash of $68, accounts receivable of $142, accounts payable of $235, and inventory of $318. What is the value o

f the quick ratio? Select one: a. 2.25 b. .53 c. .71 d. .89 e. 1.35
Business
1 answer:
zhannawk [14.2K]3 years ago
7 0

Answer:

The correct answer is option (D).

Explanation:

According to the scenario, the given data are as follows:

Cash (assets) = $68

Accounts receivables ( assets ) = $142

accounts payable ( liabilities)  = $235

Inventory = $318

So, we can calculate quick ratio by using following formula:

Quick ratio = Assets / Liabilities

= $68 + $ 142 / $235

= $210 / $235

= 0.89

Hence, the value of quick ratio is 0.89.

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True or false. The financial crisis hastened the ongoing process in which the financial services industry was transforming from
drek231 [11]

True.The financial crisis hastened the ongoing process in which the financial services industry was transforming from having a few large firms to many small firms.

Explanation:

The financial crisis broke the back of many big firms especially working the stock market and exchange. Financing services were being handled by big behemoths during the time that harbored a lot of space in the industry and did not allow smaller firms to take over the tasks and succeed in their stead.

The crisis made it impossible for their business models to sustain and no one could afford a hefty sum for financial services so smaller companies with less operational costs took their place.

5 0
3 years ago
A company's net sales were $676,600, its cost of goods sold was $236,810 and its net income was $33,750. Its gross margin ratio
algol13

Answer:

13.01%

Explanation:

Gross Margin Ratio = \frac{Net Sales - Cost of Goods Sold}{Net Income}

Gross Margin Ratio = \frac{676,000 - 236,810}{33,750}

Gross Margin Ratio = \frac{439,190}{33,750}

Gross Margin Ratio = 13.01%

Gross Profit Margin is represented as (Percentage) %. Now, the Gross profit margin is really worth investigating. It not only helps when comparing Gross Profit Margin with competitors but is also helpful in investigating and comparing previous year's Gross Profit Margin. If the Gross Profit Margin fallen there could be number of reasons for this, one might be the cost of goods sold has gone up. On contrary, on the other hand the increase in Gross Profit Margin might be because of increase in selling prices.

7 0
3 years ago
Andrews Corp. ended the year carrying $33,836,000 worth of inventory. Had they sold their entire inventory at their current pric
mamaluj [8]

Answer:

Revenue could be of amount $33,836,000

Explanation:

As the selling price is not given in the question, only the cost of the inventory is given, So,

We assume that the Sales quantity is X and the Selling Price per unit be Y

Then,

Sales = X × Y                              ............... Equation (1)

Less : COSG = $33,836,000     ................ Equation (2)

Net Income = 1 - 2

If the selling price is equal to the cost of the inventory which is $33,836,000. So, the only revenue which is to be added is the amount of $33,836,000.

Note: It totally depend or grounded on the Sales value.

6 0
3 years ago
In the United States, about $5,200 per person per year is spent on health care, while in Britain the amount is about half that.
riadik2000 [5.3K]

Answer:

The answer is: C) The money spent on health care in the United States is not being used effectively.

Explanation:

American citizens spend twice as much as British citizens on health care per year. Even if certain diseases are more common in the US than in Britain, the overall cost of health care is too expensive in the US (100% difference) to be explained by a greater prevalence of just one or two diseases.

The only possible explanation is that the American health care system is not as efficient as the British health care system, therefore health care is more expensive.

4 0
3 years ago
The process that facilitates the placement of orders and identifies, attracts, and builds relationships with external customers
Papessa [141]

Answer:

customer relationship process

Explanation:

customer relationship process. a process that identifies, attracts, and builds relationships with external customers, and facilitates the placement of orders by customers, sometimes referred to as customer relationship management.

8 0
2 years ago
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