A Label Which Represents a Class or Group of Objects

question 181

Multiple Choice

A label which represents a class or group of objects, people, or events that share common characteristics or attributes is called

• A) a positive instance.
• B) a prototype.
• C) an image.
• D) a concept.

---

Definitions:

Operating Cycle

The duration of time it takes for a company to buy inventory, sell the goods, and collect the receivables from the sale.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Cash Collections

Cash collections refer to the process of gathering all cash generated from sales, services, or receivables by a business during a specific period.

Minimum Cash Balance

Minimum cash balance is the lowest amount of cash a company aims to maintain in its accounts to ensure operational liquidity.