The Supply Schedule

question 279

Multiple Choice

The supply schedule

• A) shows the relationship between the quantity supplied and the price of a good when all other influences on selling plans remain the same.
• B) is a curve showing the relationship between the amount the sellers are willing and able to sell and the price of that good when all relevant factors change.
• C) shows one quantity at one price.
• D) is the schedule that suppliers have to keep or else they will be late.
• E) shows the relationship between the quantity supplied and the price of a good when all other influences on selling plans change.

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Definitions:

Inventory Period

The average time it takes for a company to turn its inventory into sales.

Accounts Receivable Period

Also known as days sales outstanding (DSO), it measures the average number of days it takes for a company to collect payment after a sale has been made.

Operating Cycle

The period of time it takes for a business to purchase inventory, sell products or services, and collect cash from these sales.

Standards

Established norms or requirements that are used as a basis for comparison or compliance.