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| Depoole Company is a manufacturer of industrial products that uses a calendar year for financial reporting purposes. Assume that total quick assets exceeded total current liabilities both before and after the transaction described. Further assume that Depoole has positive profits during the year and a credit balance throughout the year in its retained earnings account.Depoole’s early liquidation of a long-term note with cash affects the A. Current ratio to a greater degree than the quick ratio. B. Quick ratio to a greater degree than the current ratio. C. Current and quick ratio to the same degree. D. Current ratio but not the quick ratio. |