The Time That Elapses from When a Company Receives an Order

question 23

Multiple Choice

The time that elapses from when a company receives an order until it gets paid for delivering the order is called the:

• A) product life cycle.
• B) order to cash cycle.
• C) order management process.
• D) replenishment process.

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Definitions:

Acceptance

The act of agreeing to receive something offered or the acknowledgment of a new contractual proposal.

Predominant-Purpose Test

A legal test used to determine the primary objective or nature of a contract when it serves multiple purposes, impacting enforcement and interpretation.

Service-Warranty Test

An assessment used to determine whether a warranty offers a promise to repair or replace a product, or a promise of a specific level of performance.

UCC

The extensive array of commercial transaction laws in the United States is known as the Uniform Commercial Code.