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A business has $550,000 in current assets and a current ratio of 2.0. What is the balance of its current liabilities? Different Options 2.0 $275,000 $550,000 $1,100.000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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Question

A business has $550,000 in current assets and a current ratio of 2.0. What is the
balance of its current liabilities?
Different Options
2.0
$275,000
$550,000
$1,100.000

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