Mathematics · Financial Ratios
Calculate the revised Quick Ratio for a firm based on the following transactions occurring on the final day of the financial year 2024-25. The initial balance sheet shows: Cash and Bank Balance of ₹5 lakh, Trade Receivables of ₹10 lakh, Inventory of ₹15 lakh, and Prepaid Expenses of ₹2 lakh. On the liability side, Trade Payables are ₹8 lakh and Bank Overdraft is ₹7 lakh. On the last day, the firm pays off ₹4 lakh of trade payables using its bank balance and receives ₹3 lakh from a debtor. What is the final Quick Ratio?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11.10 : 1
- 20.81 : 1
- 31 : 1✓
- 40.95 : 1
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