Value Electronics,Inc

question 205

Multiple Choice

Value Electronics,Inc.started its operations on January 1,2019.Value engages in buying and selling different types of electronic gadgets.The first step in its operating cycle would be to ________.

• A)collect cash from customers
• B)sell goods to customers
• C)purchase inventory from vendors
• D)record the sales in accounts

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Definitions:

Receivables

Money owed to a business by its clients or customers for goods or services provided on credit.

Inventory

The goods and materials a business holds for the purpose of resale, part of the company's current assets.

Days

A measurement of time typically used to indicate the elapsed or required time for a particular event or condition.

Tax Rate

The percentage at which an individual or entity is taxed, often applied to income or sales.