Yesterday, Tessie T s Corporation purchased (and received) raw materials on credit from its supplier. All else equal, if Tessie T s current ratio was 2.0 before the purchase, what effect did this transaction have on Tessie T s current ratio? Explain how or why.

Answer rating: 100% (QA)

The current ratio is a financial ratio that measures a companys ability to pay its shortterm obligations with its shortterm assets It is calculated by ... View the full answer