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:

Kaizen

A Japanese term meaning "continuous improvement," it's a business philosophy focusing on the ongoing improvement of processes in manufacturing, engineering, and business management.

Keiretsu

A network of interlinked Japanese companies, often bound by cross-shareholdings, collaborating closely for mutual benefit.

Kanban

A scheduling system for lean manufacturing and just-in-time manufacturing that signals the need to move materials within a production facility or to move materials from an outside supplier into the production facility.

Meishi

The Japanese term for business cards, which play a significant role in business and social etiquette in Japan.