The following figures are taken from the balance sheet of XYZ Co.
$
Bank 790,000
Prepaid expenses 110,000
Inventory 300,000
Taxation payable 300,000
Mortgage due in 10 years 900,000
What is the acid test ratio?
Question 14
a.
1.33:1
b.
2:1
c.
1:1
d.
3:1
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