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Why do the current assets account have to defer intercompany inventory profit?

Why do the current assets account have to defer intercompany inventory profit?

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Current Ratio = Current Assets / Current Liabilities                                   &
Current Ratio = Current Assets / Current Liabilities                                    = 1,53 Total Debt to Equity = Total Liabilities / Shareholder’s Equity                                               = 112.52% Long Term Debt to Equity = Long Term Liabilities / Shareholder’s Equity                                                         = 70.25% Return on Assets = [Net Income + Interest Expense*(1-Tax Rate)] / Average Total Assets                                           = 5.66%     Return on Common Equity = Net Income / Average Shareholder’s Equity                                                         = 14.57% Gross Profit Margin = (Sales – Cost of Sales) /...
Describe the difference between current and long-term assets and liabilities. Why do you think it is...
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