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Which of the following statements incorrectly describes the accounts payable turnover ratio? Select one: a. A high ratio indicates that suppliers are being paid in
Which of the following statements incorrectly describes the accounts payable turnover ratio? Select one: a. A high ratio indicates that suppliers are being paid in a timely manner. b. It increases when inventory is sold on account regardless of the sales price. c. It can be manipulated by aggressively paying off accounts payable at year-end. d. It is not affected by the choice of inventory accounting methods.
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