1) What is the current ratio?   A) 2

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1)	What is the current ratio?
	A)	2.75: 1
	B)	2.5: 1
	C)	2.00 : 1
	D)	0.51: 1

2.	Debt and obligations of a business are referred to as
	A)	equities.
	B)	liabilities.
	C)	assets.
	D)	expenses.

3.	On a classified balance sheet, companies usually list current assets
	A)	in alphabetical order.
	B)	with the largest dollar amounts first.
	C)	in the order of acquisition.
	D)	in the order in which they are expected to be converted into cash.

4.	To show how successfully your business performed during a period of time, you would report its revenues and expense in the
	A)	balance sheet.
	B)	retained earnings.
	C)	statement of cash flows.
	D)	income statement retained.