Which of the following ratios is the best measure of profitability 1 point based upon the core running of the business? Operating profit margin Gross profit margin Net profit margin Return on assets 1 point Merchandise inventory turnover measures the relationship between Merchandise inventory and current liabilities. Expenses and merchandise inventory O Assets and current liabilities. Cost of goods sold and merchandise inventory 1 point Justine Company has current assets of P400,000 and current liabilities of P500,000. Justine Company's current ratio would be increased by: * The payment of P100,000 of accounts payable. Refinancing a P100,000 long-term loan with short-term debt. The purchase of P100,000 of inventory on account. The collection of P100,000 of accounts receivable. 1 point Gillian Company has a current ratio greater than 1 and an acid- test ratio less than 1. How would cash payments to suppliers to reduce accounts payable affect these ratios? * Increased current ratio and increased quick ratio. O Decreased current ratio and decreased quick ratio. Decreased current ratio and increased quick ratio. Increases current ratio and decreased quick ratio. 1 point Nathalie Inc. could improve its current ratio of 2 by: * Writing off an uncollectible receivable. O Purchasing inventory on credit. Selling merchandise on credit at a profit. O Paying a previously declared stock dividend