Multiple Choice
DEF wrote off a $300 uncollectible account receivable against the $3,600 balance in its allowance account.Compare the current ratio before the write-off with the current ratio after the write-off.
A) The current ratio before the write-off is less than the current ratio after the write-off.
B) The current ratio before the write-off is equal to the current ratio after the write-off.
C) The current ratio before the write-off is greater than the current ratio after the write-off.
D) The current ratio cannot be determined from information given.
E) None of these choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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