Paper 1 · November 2013 · Ratios and Interpretation
The following balances are available from the books of N. Ndoro on 31 December 2011.
| $ | |
|---|---|
| Fixed(non-current) assets | 24 000 |
| Current assets | 16 000 |
| Current liabilities | 8 000 |
| Long term(non-current) liabilities | 10 000 |
What is the current ratio?
A1,6: 1
B2: 1
C2,4: 1
D3: 1
Explanation
.
ZIMSEC Principles of Accounts 7112/1 Paper 1 (Multiple Choice), November 2013, Q31