When an Entity's Operating Cycle Is Not Clearly Identifiable It

question 30

Multiple Choice

When an entity's operating cycle is not clearly identifiable it is assumed to have a duration of:

• A) three months.
• B) six months.
• C) 12 months.
• D) 2 years.

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Definitions:

Consumers

Individuals or groups who purchase goods and services for personal use.

Utility

The satisfaction or benefit a consumer derives from consuming a product or service.

Textile Industry

A sector engaged in the production of yarn, cloth, and the subsequent design or manufacture of clothing and their distribution.

Athletic Performance

The level of achievement and proficiency demonstrated by an athlete or sports participant in competitive settings.