Which one of the following is correct?
(i) Ideal accepted Quick Ratio is 2 ∶ 1.
(ii) A high inventory turnover ratio means inefficient use of investment in inventory and over investment in stocks.
(iii) Operating Profit = Revenue from Operations - (Cost of goods sold + Administrative and office expenses + Selling and distribution exp.)
1
(i) and (iii)
2
(ii) and (iii)
3
Only (iii)
4
(i) and (ii)