Explain How to Select and Train Sensory Panelists

question 21

Essay

Explain how to select and train sensory panelists.

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Definitions:

Operating Cycle

The operating cycle is the duration it takes for a business to convert its inventory and other inputs into cash through sales, encompassing the production and sales process.

Accounts Receivable Turnover

A financial metric that measures how frequently a business can convert its accounts receivable into cash over a specific period.

Inventory Turnover

Inventory turnover is a ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management.

Operating Cycle

The period between the acquisition of inventory by a business and the collection of accounts receivable generated from the sale of that inventory.