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Asked by Jessica Lapnow on Jul 19, 2024

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The financial statements of Burnaby Mountain Trading Company are shown below.
The financial statements of Burnaby Mountain Trading Company are shown below. Note: The common shares are trading in the stock market for $27 each. Refer to the financial statements of Burnaby Mountain Trading Company. The firm's quick ratio for 2017 is ________. A) 1.3 B) 1.5 C) 1.69 D) 2.83
The financial statements of Burnaby Mountain Trading Company are shown below. Note: The common shares are trading in the stock market for $27 each. Refer to the financial statements of Burnaby Mountain Trading Company. The firm's quick ratio for 2017 is ________. A) 1.3 B) 1.5 C) 1.69 D) 2.83
Note: The common shares are trading in the stock market for $27 each.
Refer to the financial statements of Burnaby Mountain Trading Company. The firm's quick ratio for 2017 is ________.

A) 1.3
B) 1.5
C) 1.69
D) 2.83

Quick Ratio

A measure of a company's ability to meet its short-term obligations with its most liquid assets, excluding inventories.

  • Determine and quantify financial ratios to examine an enterprise's efficiency.
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MN
Moneyp NationsJul 21, 2024
Final Answer :
B
Explanation :
QR = (Cash + AR)/CL = ($90,000 + 810,000)/$600,000 = 1.5

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