The Length of Time That Elapses Between the Day a Firm

question 18

Multiple Choice

The length of time that elapses between the day a firm purchases an inventory item and the day that item sells is called the:

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

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Definitions:

ISO 19600

An international standard providing guidelines for establishing, developing, implementing, and maintaining a compliance management system within an organization.

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