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Near the end of the current year the company pays off its

Question - The New Orleans Company has more current assets than current liabilities. Near the end of the current year, the company pays off its rent payable for $5,000. What is the impact of this payment on the company current ratio?

a. No change occurs in the current ratio

b. Current ratio goes up

c. Current ratio goes down

d. The impact on the current ratio cannot be determined based on the information provided.

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Accounting Basics: Near the end of the current year the company pays off its

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