Use the information below to answer this question Zahki Plc balance sheet (extract) as at...
FINANCIAL
JAMB 2021
Use the information below to answer this question
Zahki Plc balance sheet (extract) as at 31st December 1997.
₦ ₦
Paid up capital 200,000 Fixed assets 300,000
Share premium 15,000
Profit and loss account 60,000 Investment 180,000
Long-term loan 180,000 Stock 28,000
Debtors 90,000
Creditors 200,000 provision(3000) 87,000
Other current liabilities 100,000 Cash 60,000
Bank 100,000
755,000755,000
The quick ratio is
- A. 0.82:1
- B. 1:53:1
- C. 0.95:1
- D. 0.91:1
Correct Answer: C. 0.95:1
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