On January 1,2015 Gatewood sold inventory on account for $8,000 and recorded cost of goods sold of $6,100.Which of the following statement is incorrect?
A) Gatewood's current ratio will decrease.
B) Gatewood's quick ratio will increase.
C) Gatewood's working capital will decrease.
D) Gatewood's current ratio and working capital will decrease are both incorrect statements
Correct Answer:
Verified
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