O-LevelAccountingAnalysis and interpretation7707/11 · May/June 2012 · Q291 Mark

A business had the following assets and liabilities. $ inventory 11 000 trade receivables 39 000 bank overdraft 8 000 trade payables 12 000 long-term loan 30 000 What was the current ratio?

A1:1

B1.38:1

C1.95:1

D2.5:1

✓ Correct answer

D: 2.5:1

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 29.

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