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Wichita Company wrote off $100,000 of obsolete inventory at December 31, year 2. The effect of this write-off was to decrease: Both the current and
Wichita Company wrote off $100,000 of obsolete inventory at December 31, year 2. The effect of this write-off was to decrease:
- Both the current and acid-test ratios.
- Only the current ratio.
- Only the acid-test ratio.
- Neither the current nor the acid-test ratios.
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Accounting An Introduction
Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
