Assignment:
Q1. Why is it sometimes misleading to compare a company’s financial ratios with those of other firms that operate in the same industry?
Q2. Ace Industries has current assets equal to $3 million. The company’s current ratio is 1.5, and its quick ratio is 1.0. What is the firm’s level of current liabilities? What is the firm’s level of inventories?
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.