Multiple Choice
Best Baskets Limited (BBL) had a current ratio of 0.8:1 before borrowing $50,000 from the bank with a short-term note payable.What effect did the borrowing transaction have on BBL's current ratio?
A) The ratio remained unchanged.
B) The ratio decreased.
C) The ratio increased.
D) Cannot be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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