When examining whether a company has underrecorded accounts payable, each of the following ratios is except:

a. acid-test ratio.
b. accounts payable/purchases.
c. accounts payable/cost of goods sold.
d. unearned revenue/accounts payable.
e. current ratio.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer casual models;