In the year ended 31 December 20X1, XYZ receives an email confirming that a major customer has gone into liquidation and will be unable to pay its suppliers.
Which of the following is the impact of adjusting for this event?
Haha, A is just ridiculous. Profits increase? Really? That's the last thing that's gonna happen when a big customer goes under. D is the only logical choice here.
Definitely D. Receivables decrease and profits decrease. That's the impact of a major customer going into liquidation. Can't believe they even included A and C as options!
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