Multiple Choice
(CMA adapted, Dec 93 #17) Norton Inc.has a 2 to 1 current ratio.This ratio would increase to more than 2 to 1 if
A) a previously declared stock dividend were distributed.
B) the company wrote off an uncollectible receivable.
C) the company sold merchandise on open account that earned a normal gross margin.
D) the company purchased inventory on open account.
E) none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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