Series 66 Quiz
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ECONOMIC FACTORS AND BUSINESS INFORMATION
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A company reports cash of $50,000, marketable securities of $30,000, accounts receivable of $120,000, inventory of $200,000, prepaid expenses of $20,000, and current liabilities of $100,000. The company uses $40,000 of its cash to purchase additional inventory. What is the company's quick (acid-test) ratio after the purchase, rounded to two decimal places?
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