The Time Interval Between Paying for Raw Materials and Collecting

question 84

Multiple Choice

The time interval between paying for raw materials and collecting on sales of finished goods is known as the:

• A) inventory cycle.
• B) matching cycle.
• C) cash conversion cycle.
• D) accounts receivable cycle.

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Definitions:

Contract Law

The branch of law dealing with the formation, interpretation, and enforcement of contracts.

Uniform Commercial Code (UCC)

The UCC codifies and harmonizes trade laws across the United States, facilitating interstate commerce.

Convention on Contracts

Refers to international treaties or conventions that lay down rules for contracts, particularly in international trade, such as the United Nations Convention on Contracts for the International Sale of Goods (CISG).

Revoke the Offer

The act of withdrawing a proposal that was previously presented to another party before it has been accepted.