Using the following year-end information for Work-Fit calculate the acid-test ratio: Cash $ 40,000 Short-term investments 5,000 Accounts receivable (all current) 65,000 Inventory 340,000 Supplies 14,030 Accounts payable 111,500 Wages payable 33,000
Multiple Choice
0.26
0.35
0.46
0.67
0.76