The Miller Company paid off some of its accounts payable using cash. The company

Question

The Miller Company paid off some of its accounts payable using cash. The company's current ratio is greater than 1. The company's current ratio would:

increase.

decrease.

remain unchanged.

impossible to determine from the information given.

2 points   

Question 33

The gross margin percentage is most likely to be used to assess:

how quickly accounts receivables can be collected.

how quickly inventories are sold.

the efficiency of administrative departments.

the overall profitability of the company's products.

increase.

decrease.

remain unchanged.

impossible to determine from the information given.

Explanation / Answer

decrease.

the efficiency of administrative departments.

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