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| Both the current ratio and the quick ratio for Spartan Corporation have been slowly decreasing. For the past two years, the current ratio has been 3-to-1 and 2-to-1 During the same time period, the quick ratio has decreased from 2-to-1 to 1-to-1 The disparity between the current and quick ratios can be explained by which one of the following? A. The current portion of long-term debt has been steadily increasing. B. The cash balance is unusually low. C. The accounts receivable balance has decreased. D. The inventory balance is unusually high. |