The ______________ of a Company Is the Average Time That

question 70

Short Answer

The ______________ of a company is the average time that it takes to purchase inventory sell it on account and then collect cash from customers.

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Definitions:

Distinct Legal Entity

This term refers to a business structure that is recognized as separate from its owners, having its own rights and liabilities.

Corporation

A legal entity that is separate and distinct from its owners, recognized by law as having rights and liabilities.

General Partnership

A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.