Carl's Toy Factory had the following items listed on its balance sheet. Cash, 1,590; Accounts Receivable, 5,746; Accounts Payable, 9,563; Inventory, 7,879; Equipment, 35,743; Land, 50,000; Buildings, 135,487; Mortgage, 125,276. Based on this information what was Carl's quick ratio?

0.8 : 1

Step-by-step explanation:

Given:

Carl's Toy Factory had the following items listed on its balance sheet.

Cash = 1,590

Accounts Receivable = 5,746

Inventory= 7,879;

Accounts Payable = 9,563

Equipment = 35,743;

Land = 50,000

Buildings= 135,487

Mortgage = 125,276

Question asked:

What was Carl's quick ratio?

Solution:

As we know:

Therefore, based on this information, Carl's quick ratio is 0.8 : 1

Note : Account payable is current liabilities and hence divided in above formula.

step-by-step explanation:

answer by jkismyhusbandbae:

a) how close a measured value is to the actual (true) value.

  measure of length.   there are 12 inches in a foot, and 36 inches in a yard.   one inch is exactly 2.54 centimeters.

accuracy is how close something is to an actual answer but it is not exactly correct.