49. The amount by which current assets exceed current liabilities is defined as a. Debt-to-equity ratio. b. Current ratio. c. Asset turnover d. Working capital. 50. Which of the following ratios is commonly used to measure liquidity? a. Profit margin b. Return on assets c. Current ratio d. Return on equity 51. The periodic inventory system is used more commonly by companies that se a. low-priced, high-volume merchandise. b. high-priced, high-volume merchandise. c. low-priced, low-volume merchandise. d. high-priced, low-volume merchandise