The Golden Braid Bookstore currently has $340,000 in cash, $280,000 in inventory, and $40,000 in accounts receivable. The company also has $65,000 in accounts payable, and $15,000 in other current liabilities. What is its quick ratio?

Mern Corp. is in the business of selling computers and computer software to the public. Mern sold and delivered a personal computer to Whyte on credit. Whyte executed and delivered to Mern a promissory note for the purchase price and a security agreement covering the computer. If Whyte purchased the computer for personal use and Mern fails to file a financing statement, which of the following statements is correct?

A. The computer was a consumer good while in Mern's possession. B. Perfection of Mern's security interest occurred at the time of attachment. C. Mern's security interest is not enforceable against Whyte because Mern failed to file a financing statement. D. Mern does not have a perfected security interest because it failed to file a financing statement.

Change in estimate:

a. required disclosure for publicly traded corporations b. component of the entity has been sold or will be sold c. costs generally associated with downsizing d. reports a series of intermediate subtotals e. accounted for prospectively f. tangentially related to normal operations g. accounted for retrospectively by revising prior years' statements h. other comprehensive income i. total non-owner change in equity j. ability of reported income to predict future earnings