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Which of the following statements is correct? Multiple Choice A current ratio of 1 . 6 0 means the company's current assets are probably not
Which of the following statements is correct?
Multiple Choice
A current ratio of means the company's current assets are probably not sufficient to pay its current liabilities.
The separate entity assumption requires that the financial activities of the owners of a company be reported on the company's balance sheet.
The cost principle states that recording activities at cost will result in the balance sheet representing the true value of the company.
A transaction is recorded if it has a measurable financial effect on the assets, liabilities or stockholders' equity of a business.
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