The Time Required for a Business to Acquire Resources,convert Them

question 96

Multiple Choice

The time required for a business to acquire resources,convert them into a product,sell the product,and receive cash from the sale is referred as the _____ cycle of a business.

• A) seasonal
• B) operating
• C) credit
• D) chargeback

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Definitions:

C.P.A.

Stands for Certified Public Accountant, a designation given to someone who has passed the Uniform CPA Examination and met additional state education and experience requirements.

Tax Liability

The total amount of tax owed by an individual, corporation, or other entity to a taxing authority.

Indemnification

The process by which one party agrees to compensate another for any loss or damage that has occurred or may occur.