Which of the Following Is NOT Correct

question 9

Multiple Choice

Which of the following is NOT correct?

• A) The operating cycle sometimes is longer than one year in duration.
• B) The operating cycle always is one year in duration.
• C) The operating cycle sometimes is shorter than one year in duration.
• D) The operating cycle is a concept applicable both to manufacturing and retailing enterprises.

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Definitions:

Total Surplus

The sum of consumer and producer surplus, representing the total benefits to society from the production and consumption of goods and services.

International Trade

The exchange of goods and services between countries, allowing for the acquisition of products not available domestically or the export of surplus production.

Domestic Consumers

Individuals or entities within a country that purchase goods and services for personal use or consumption.

Domestic Producers

Refers to businesses and individuals that produce goods and services within a country's borders.