Kingsbury Associates has current assets as follows: - 3064

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Request Description

Kingsbury Associates has current assets as follows:

Cash $3,000

Accounts receivable $4,500

Inventories $8,000

If Kingsbury has a current ratio of 3.2, what is its quick ratio?

a. 2.07
b. 1.55
c. 0.48
d. 0.96

Solution Description

Kingsbury Associates has current assets as follows: