Session 3 - Ch 4.docx - MGT 11A Discussion Session Ch 4 1...

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MGT 11A – Discussion Session - Ch 4 (10/18/2017) 1. Merchandise inventory: a) Is a long-term asset. b) Is a current asset. c) Includes supplies. d) Is classified with investments on the balance sheet. e) Must be sold within one month. 2. ABC Corporation had total quick assets of $5,888,000, current assets of $11,700,000, and current liabilities of $8,000,000. Its acid-test ratio equals:
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