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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
The following contains information from the records of the Balfor Architecture Firm

   Balfor Architecture Firm
   Selected Financial Information
   December 31, 2017
Current Assets   $80,000
Current Liabilities   42,000
Long-Term Assets   95,000
Long-Term Liabilities   60,000
Total Revenues   50,000
Total Expenses   30,000

Which of the following statements is an accurate interpretation of the current ratio of Balfor Architecture Firm? (Round your answer to two decimals.)
A) The company has $1.58 of current assets for every $1.00 of liabilities.
B) The company has $2.42 of current assets for every $1.00 of liabilities.
C) The company has $1.90 of current assets for every $1.00 of current liabilities.
D) The company has $0.62 of current assets for every $1.00 of current liabilities.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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