CCRA Ratio Practice Questions
The free CCRA: Certified Credit Research Analyst questions that deal with ratio, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #1
A company has a current ratio of 1.5. If its current liabilities increase by 20%, what must happen to current assets for the current ratio to remain unchanged?
Correct answer: D
Explanation
To maintain the same current ratio, current assets must increase proportionately to the increase in current liabilities.
Question #4
A company's accounts receivable turnover ratio is 10. If its average accounts receivable is $50,000, what are its annual sales?
Correct answer: A
Explanation
Accounts Receivable Turnover Ratio = Sales / Average Accounts Receivable; thus, Sales = 10 * $50,000 = $500,000.
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