Use the table for the question(s) below. Balance Sheet Assets Current Assets Cash Accounts receivable Inventories Total current assets Long-Term Assets Net property, plant, and equipment Total long-term assets Total Assets 2021 2022 50 22 17 89 46 12 38 96 121 116 121 116 210 212 Liabilities Current Liabilities Accounts payable Notes payable/short-term debt Total current liabilities Long-Term Liabilities Long-term debt Total long-term liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity 2021 2022 O A. The company has reduced the risk that it will experience a cash shortfall in the near future. OB. The risk that the company will experience a cash shortfall in the near future is unchanged. OC. The company has eliminated the risk that it will experience a cash shortfall in the near future. OD. The company has increased the risk that it will experience a cash shortfall in the near future. 42 7 49 128 128 177 33 210 65 48 53 136 136 189 23 212 If the above balance sheet is for a retail company, what indications about this company would best be drawn from the changes in quick ratio between 2021 and 202

Use the table for the question(s) below. Balance Sheet Assets Current Assets Cash Accounts receivable Inventories Total current assets Long-Term Assets Net property, plant, and equipment Total long-term assets Total Assets 2021 2022 50 22 17 89 46 12 38 96 121 116 121 116 210 212 Liabilities Current Liabilities Accounts payable Notes payable/short-term debt Total current liabilities Long-Term Liabilities Long-term debt Total long-term liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity 2021 2022 O A. The company has reduced the risk that it will experience a cash shortfall in the near future. OB. The risk that the company will experience a cash shortfall in the near future is unchanged. OC. The company has eliminated the risk that it will experience a cash shortfall in the near future. OD. The company has increased the risk that it will experience a cash shortfall in the near future. 42 7 49 128 128 177 33 210 65 48 53 136 136 189 23 212 If the above balance sheet is for a retail company, what indications about this company would best be drawn from the changes in quick ratio between 2021 and 202

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 13DQ: Define current assets and current liabilities. Why are current assets and current liabilities...

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