Reference no: EM131444675
Jarrod is a college student. All of Jarrod's disposable income is used to pay his college-related expenses. While he has no liabilities (Jarrod is on a scholarship), he does have a credit card that he typically uses for emergencies. He and his friend went on a shopping spree in New York City costing $1,800, which Jarrod charged to his credit card. Jarrod has $83 in his wallet, but his bank accounts are empty. What is Jarrod's liquidity ratio? What does this ratio indicate about Jarrod's financial position?
Jarrod's liquidity ratio is: (Select the best answer below.)
A. 4.61, which indicates for every dollar of current debt, he has $4.61 in liquid assets.
B. 20.00, which indicates for every dollar of current debt, he has $20.00 in liquid assets.
C. 0.05, which indicates for every dollar of current debt, he only has $0.05 in liquid assets.
D. 0.46, which indicates for every dollar of current debt, he has $0.46 in liquid assets.
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