O-LevelAccountingAnalysis and interpretation7707/12 · Oct/Nov 2014 · Q291 Mark

A trader provided the following information. bank overdraft $1650; trade receivables $2200; trade payables $2900; inventory $4200; short term loan from bank $2000. What was the current ratio?

A0.34:1

B0.98:1

C1:0.34

D1:0.98

✓ Correct answer

B: 0.98:1

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2014 Paper 1 Variant 2, question 29.

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