The Last Step in the Operating Cycle Is the

question 161

Multiple Choice

The last step in the operating cycle is the

• A)sale of merchandise inventory for cash or on credit.
• B)payment for purchases made on credit.
• C)collection of cash from credit sales.
• D)purchase of merchandise inventory for cash or on credit.

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Definitions:

Family Members

Individuals related by blood, marriage, or adoption who may share living arrangements and economic responsibilities.

Financially Controlled

A condition where financial resources, expenses, and income are regulated and monitored to ensure stability and prevent fraud.

Entrepreneurial Hobby

An activity or interest pursued outside one's regular occupation that involves creating or managing ventures with a growth and profit potential.

B2B

Business-to-business, a type of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and retailer.