Question: Question 1: Short answer 1. Indicate whether each of the actions listed below will immediately increase (1), decreas have no effect on the ratios shown.

Question 1: Short answer 1. Indicate whether each of the actions listed below will immediately increase (1), decreas have no effect on the ratios shown. Assume each ratio is less than 10 before action is taken. 18 points] . Current Ratio = Current Assets / Current Liabilities Acid-test Ratio = Quick Assets / Current Liabilities Quick Assets = unrestricted cash + short-term investments + accounts receivable Action Current Ratio Acid-test Ratio A firm purchased inventory on account A firm received cash from a customer in advance of six months of service b

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