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A firm had a Current Assets of ₹ 4,00,000. It then paid a current liability of ₹ 80,000. After this payment the current ratio was 2 :1. Answer the following1) How much is Current liabilities after payment of ₹ 80,000? i) ₹ 3,20,000 ii) ₹ 1,60,000 iii) ₹ 80,000 iv) ₹ 2,00,000 2) Determine working capital before and after payment of ₹ 80,000? i) ₹ 3,20,000 and ₹ 1,60,000 ii) ₹ 3,20,000 and ₹ 3, 20,000 iii) ₹ 1,60,000 and ₹ 1,60,000 iv) ₹ 2,40,000 and ₹ 1,60,000 3) Liquid asset does not include the following i) Trades receivables ii) Short term loans and advances iii) Inventory and pre-paid expensesiv) Current investments 4) What is the ideal current ratio and quick ratio?i) 3 : 1 and 2 : 1 ii) 2 : 1 and 1 : 1 iii) 1 : 1 and 2 : 1 iv) 2 : 1 and 2 : 1 |
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Answer» 1 ii) ₹ 1,60,000 2 iii) ₹ 1,60,000 and ₹ 1,60,000 3 iii) Inventory and pre-paid expenses 4 ii) 2 : 1 and 1 : 1 |
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