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Zenk Co. wrote off obsolete inventory of $100,000 during 2016. What was the effe

Zenk Co. wrote off obsolete inventory of $100,000 during 2016. What was the effect of this write-off on Zenk’s ratio analysis? a. Decrease in the current ratio but not the quick ratio. b. Decrease in the quick ratio but not in the current ratio. c. Increase in the current ratio but not in the quick ratio. d. Increase in the quick ratio but not in the current ratio. International Financial Reporting Standards are tested on the CPA exam along with U.S. GAAP. The following questions deal with the application of IFRS.

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