The Length of Time Between the Acquisition of Inventory by a Firm

question 76

Multiple Choice

The length of time between the acquisition of inventory by a firm and the payment by the firm for that inventory is called the:

• A)operating cycle.
• B)inventory period.
• C)accounts payable period.
• D)accounts receivable period.
• E)cash cycle.

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Definitions:

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in harm to another party.

Foreseeable Pain

Pain that can be anticipated or expected in given circumstances, often considered in legal contexts regarding negligence or malpractice.

Premises Liability

A legal concept holding property owners and occupants liable for accidents and injuries that occur on their property.

Special Duty

An obligation or responsibility that is specific to a particular role, situation, or relationship, requiring action or care beyond ordinary duties.