The data of Franklin Brothers Corp. for two years are given below. 2016 2017 Cash...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The data of Franklin Brothers Corp. for two years are given below. 2016 2017 Cash and cash equivalents $ 5 comma 100$5,100 $ 12 comma 300$12,300 Total current liabilities 22 comma 00022,000 30 comma 00030,000 Based on the above information, which of the following statements is true.
A.
Cash ratio has increased from 0.05 in 2016 to 0.08 in 2017.
B.
Cash ratio has increased from 0.02 in 2016 to 0.03 in 2017.
C.
Cash ratio has increased from
0.410.41
in 2016 to
0.2320.232
in 2017.
D.
Cash ratio has increased from
0.2320.232
in 2016 to
0.410.41
in 2017.
Please use these options instead and disregard the previous update that I previous posted.
ps I would like a break down please with the answer instead of just the answer
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
