Maridells Fashions has a debt that has been properly reported as a long-term liability up to the
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Maridell’s Fashions has a debt that has been properly reported as a long-term liability up to the present year (2018). Some of this debt comes due in 2018. If Maridell’s Fashions continues to report the current position as a long-term liability, the effect will be to
a. Understate the debt ratio.
b. Understate total liabilities.
c. Overstate the current ratio.
d. Overstate net income.
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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