The Average Length of Time It Takes Customers to Pay

question 283

Multiple Choice

The average length of time it takes customers to pay for the merchandise they buy is called the:

• A) Cash cycle.
• B) Accounts payable period.
• C) Operating cycle.
• D) Accounts receivable period.
• E) Accounts receivable turnover rate.

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Definitions:

Organizational Mission

A written declaration of an organization's core purpose and focus that remains unchanged over time.

Decision Making

Identifying and picking choices guided by the values, tastes, and beliefs of the person making decisions.

Bureaucratic Control

A system to manage an organization through a set of formal rules and procedures to ensure efficiency and effectiveness.

Organizational Interests

Encompass the aims, goals, or objectives that an organization seeks to achieve.