Indicate the effects of the following errors on each of the items listed in the column headings
Question:
¢ Gross Profit = Sales - Cost of Goods Sold
¢ Current Ratio = Current Assets ÷ Current Liabilities
¢ Receivables Turnover Rate = Sales ÷ Average Accounts Receivable (net)
¢ Working Capital = Current Assets - CurrentLiabilities
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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