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Lemming Company Has Current Assets Of $300,000, Current Liabilities Of $100,000, And An Inventory Of $150,000, Lemming's Acid-test Ratio Is?
 The formula for Acid test ratio is =( Current Assets- Inventory )/ Current Liabilities In the case of Lemming Company the calculations are: ($300,000-$150,000)/$100,000 =$150,000/$100,000 = 1.5 is the required Acid Test Ratio. |
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by
Aicha  26 May 2008 21:41 |
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