pa
i
.
.
2
#
3.
Open
credit
in
a
revolving
charge
plan
results
in
//
p
Vf?
7
2.
A.
as
many
cash
purchases
till
credit
limit
is
reached.
B.
one
purchase
per
month.
C.the
U.S.
Rule
being
applied
to
each
purchase.
@as
many
charged
purchases
till
credit
limit
is
reached.
4.
Lee
Company
has
a
current
ratio
of
2.65.
The
acid
test
ratio
is
2.01.
The
current
liabilities
of
Lee
are
$45,000.
Assuming
there
are
no
prepaid
expenses,
the
dol]ar
amount
of
merchandise
inventory
is
fi
'/
v
7
A.
$28,008.
dS-90l=
LY
B.
$90,540.
ol
4
o00
:d(;;,fj;:uo
1
©ras00.
{10
D.
$90,450.
