The financial manager of Mystery, Inc. tells her banker that Mystery's accounts receivable declined by $275,000 that day. Based on this, the bank knows that Mystery's current ratio:
A) Must have increased from the day before.
B) Must have decreased from the day before.
C) Did not change from the day before.
D) Declined but the quick ratio was unchanged from the day before.
E) Would possibly be affected, but more information is needed to know in which direction.
Correct Answer:
Verified
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