FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Houston Company's current ratio is 3 to 2. The company is negotiating a loan, and the
company's management understands that a higher (i.e., better) current ratio will reduce the
company's cost of borrowing (interest rate). Which of the following transactions will
improve Houston Company's current ratio?
Select one:
O a. making a payment on a long-term debt
O b. using cash to pay current liabilities
O c. purchasing inventory on account
d. collecting on some of the company's accounts receivable
O e. none of the above
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