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Question 10 (1 point) The acid-test ratio is: Current assets minus inventory divided by current liabilities minus accounts payable. Current assets minus inventory and prepaid items divided by current liabilities. Cash divided by accounts payable. The liquidity ratio divided by the equity ratio. Previous Page Next Page Pa Submit Quiz 0 of 15 questions saved
Question 11 (1 point) Managements Report on Internal Control Over Financial Reporting: Contains personal certification of the financial statements by the companys executives. Contains a detailed description of compensation of the companys executives for the year. Provides the auditors opinion on the fairness of the financial statements. Provides a summary of significant accounting policies used to prepare financial statements. Previous Page Next Page Pag Submit Quiz O of 15 questions saved
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Answer #1

10.

Acid test ratio = (current assets - inventory - prepaid expense )/ current liabilities

So correct answer is B

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