Click to watch the Tell Me More Learning Objective 7 video and then answer the questions below. 1. The quick ratio is computed as divided by . assets; quick liabilities quick assets; quick liabilities quick assets; current liabilities current assets; current liabilities 2. Lilac Company reported the following financial data for the year ended December 31: Cash $50,000 Accounts receivable 40,000 Inventory 25,000 Total assets 150,000 Current liabilities 49,000 Total liabilities 99,000 Lilac's quick ratio for the year ended December 31 is 1.5. 1.8. 2.4. 4.2.

The amberssen specialty company is a chain of twelve retail stores that sell a variety of imported gift items, gourmet chocolates, cheeses, and wines in the toronto area. amberssen has an is staff of three people who have created a simple but effective information system of networked point-of-sale registers at the stores and a centralized accounting system at the company head- quarters. harry hilman, the head of amberssens is group, has just received the following memo from bill amberssen, sales director (and son of amberssen’s founder). harry—it’s time amberssen specialty launched itself on the internet. many of our competitors are already there, selling to customers without the expense of a retail storefront, and we should be there too. i project that we could double or triple our annual revenues by selling our products on the internet. i’d like to have this ready by - giving, in time for the prime holiday gift-shopping season. bill after pondering this memo for several days, harry scheduled a meeting with bill so that he could clarify bill’s vision of this venture. using the standard con- tent of a system request as your guide, prepare a list of questions that harry needs to have answered about this project.