33. A lawyer collected RM830.00 of legal fees in advance. He erroneously debited Cash for RM380.00 and credited Accounts Receivable for RM380.00. The correcting entry is RM RM A. Cash 380.00 Accounts Receivable. 450.00 Unearned Revenue. 830.00 B. Cash... 830.00 Service Revenue. 830.00 C. Cash 450.00 Accounts Receivable. 380.00 Unearned Revenue. 830.00 D. Cash 450.00 Accounts Receivable. 450.00 34. The following information extract from the balance sheet: RM Current Assets Stock Debtors Bank Less: Current Liabilities Creditors 10,000.00 25,000.00 15,000.00 28,000.00 + Which of the following statements is not true? A. Acid test ratio = 1.43 B. Profitability cannot be assessed C. Current ratio = 5 D. Acid test ratio=0.7 35. An acid test ratio which is negative would mean: A. The firm may be insolvent B. Current liabilities are larger than current assets C. A mistake has been made in the calculation D. Inventory levels are very high