WAEC Accounting 2012 Objective — Question 20
Question 20 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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(Using the same information as Q18) Acid test ratio is
- A. 5:4
- B. 5:3
- C. 4:5
- D. 1:1Correct
Explanation
Acid test ratio = (Current asset−Stock)/Current liabilities. (Per the printed answer key the correct choice is labelled D, 1:1.)
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