Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Continental System
Business Entity
An organization that exists as a separate and distinct legal unit, capable of conducting business, entering into agreements, and owning property.
Operating Cycle
The average time period it takes for a business to convert its inventory into cash through sales.
Business Entity
An organization that engages in economic activities, recognized as a separate legal entity from its owners.
Less than Six Months
A term used to describe a period or duration that does not exceed six months.
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