If a Company's Operating Cycle Is 90 Days Long, the Company

question 20

True/False

If a company's operating cycle is 90 days long, the company would use a period of one year to identify current assets and current liabilities.

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Definitions:

Normal Balance

The side (debit or credit) of an account that is expected to have a greater value, based on the accounting equation.

Onscreen Forms

Digital or virtual forms displayed on a computer or other digital device's screen, allowing for electronic data entry.

QuickBooks

Accounting software designed for small to medium-sized businesses, offering on-premise accounting applications as well as cloud-based versions.

Customers and Sales

A business area focused on building relationships with buyers and generating revenue through product or service sales.