At the end of the year,a company made an adjusting entry for prepaid insurance that had expired.Which of the following is true?
A) Net profit margin ratio will decrease and debt-to-assets ratio will increase.
B) Net profit margin ratio will increase and debt-to-assets ratio will not change.
C) Net profit margin ratio will decrease and debt-to-assets ratio will not change.
D) Net profit margin ratio will not change and debt-to-assets ratio will not change.
Correct Answer:
Verified
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