jessica's boutique has cash of $225, accounts receivable of $457, accounts payable of $398, and inventory of $647. what is the value of the quick ratio? a) .55 b) 1.05 c) 1.71 d) 1.32 e) 1.52

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26-10-2022
Business

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jessica's boutique has cash of $225, accounts receivable of $457, accounts payable of $398, and inventory of $647. what is the value of the quick ratio? a) .55 b) 1.05 c) 1.71 d) 1.32 e) 1.52

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qwteddy qwteddy · Answer 1 · 2022-10-29T11:49:47-04:00

jessica's boutique has cash of $225, accounts receivable of $457, accounts payable of $398, and inventory of $647. the value of the quick ratio is 1.71

Cash = $225, accounts receivable = $457, accounts payable = $398

Quick ratio = cash + accounts receivable/ accounts payable

= 225 + 457/ 398

= 1.71

The quick ratio commonly referred to as the acid-test ratio, is a sort of liquidity ratio used in finance that gauges a company's capacity to use its near-cash or quick assets to rapidly pay off or retire its current liabilities.

A company's most liquid assets, such as cash, cash equivalents, marketable securities, and accounts receivable, are divided by all of its current liabilities to arrive at the quick ratio.

The quick ratio gauges how rapidly a business can turn over liquid assets into cash to cover short-term liabilities. A favorable quick ratio might reveal a company's resilience to unforeseen circumstances or other situations that result in transient cash flow issues.

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