Examlex

Solved

Match the Following Terms with Their Descriptions Below

question 18

Multiple Choice

Match the following terms with their descriptions below.
-A number of organic substances necessary in trace amounts for normal growth, development, metabolism, and release of energy from food


Definitions:

Accounts Receivable

Funds that customers owe to a company for products or services received but not yet compensated for.

Accounts Payable

Money owed by a company to its creditors for goods and services received but not yet paid for.

Operating Cycle

The period of time it takes for a company to purchase inventory, sell products, and collect cash from customers, indicating the efficiency of a business's operations.

Inventory

Inventory comprises all the goods and materials held by a company for the purpose of resale or incorporation into their product.

Related Questions