The Operating Cycle Is Defined as the Period of Time

question 137

Multiple Choice

The operating cycle is defined as the period of time between the _____ and the _____.

• A) Payment of an account payable; collection of cash related to that payable.
• B) Purchase; sale of inventory.
• C) Acquisition of inventory; collection of cash from the sale of that inventory.
• D) Sale of a product; collection of payment for that product.
• E) Acquisition of inventory; payment to the supplier of that inventory.

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Definitions:

Ultimate Cause

The reasons why, over many years of evolution, a particular trait or behavior helped members of a population to survive and reproduce.

Proximal Cause

The immediate or closest cause to an event or occurrence, often discussed in the context of biology or pathology.

Social Communication

The exchange of information and meaning between individuals through verbal and non-verbal methods.

Intelligence Test

A standardizes assessment tool designed to measure a person's intellectual capabilities and potential.