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Use the following for questions 8-9:
Accounts receivable 200,000
Accounts payable 80,000
Bonds payable, due in 10 years 300,000
Cash 100,000
Interest payable, due in three months 10,000
Inventory 440,000
Land 250,000
Notes payable, due in six months 50,000
8. Current ratio is
a. 6.31
b. 4.51
c. 5.29
d. 4.40
9.Acid-test ratio is
a. 3.19
b. 2.14
c. 2.50
c. 2.20
Answer & Explanation
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