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  3. Study Set
    Fundamental Financial Accounting Concepts Study Set 2
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    Exam 13: Financial Statement Analysis Available Online in the Connect Library
  5. Question
    Roanoke Company Collected $500 on Account
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Roanoke Company Collected $500 on Account

Question 7

Question 7

Multiple Choice

Roanoke Company collected $500 on account. What impact will this transaction have on the firm's current ratio?


A) Increase it
B) Decrease it
C) No impact
D) Not enough information is provided to answer the question.

Correct Answer:

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