1 pts Question 9 [p 104-112 and critical thinking) Most of the following statements are true. Which statement is FALSE? In accounting, we distinguish between "current" and long-term." For instance, a classified balance sheet is one that separates current assets and liabilities from long-term assets and liabilities. Current ratio reflects a company's ability to repay its long-term debt. A six-month note payable is a current liability Current ratio is computed as current assets divided by current liabilities. Profit margin ratio reflects the amount of profit in each dollar of net sales