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:

\dfrac{16\,000}{8\,000} = 2:1

ZIMSEC Principles of Accounts 7112/1 Paper 1 (Multiple Choice), November 2013, Q31

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