As of December 31,Year 1,Gant Corporation Had a Current Ratio

question 54

Multiple Choice

As of December 31,Year 1,Gant Corporation had a current ratio of 1.29,quick ratio of 1.05,and working capital of $18,000.The company uses a perpetual inventory system and sells merchandise for more than it cost.On January 1,Year 2,Gant recorded cost of goods sold of $4,100.As a result of this transaction,Gant's quick ratio will:

• A)Decrease.
• B)Increase.
• C)Remain the same.
• D)Cannot be determined.

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Self-awareness

The conscious knowledge of one's own character, feelings, motives, and desires, playing a critical role in psychological development.

Stability and Change

Concepts referring to the persisting characteristics of an entity or situation and the evolution or alteration it may undergo over time.

Personality Traits

Enduring patterns of thoughts, feelings, and behaviors that distinguish individuals from one another.

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The maximum duration of life of a species or individual, encompassing all phases from birth to death.