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.