The Order Cycle Is ___________

question 19

Multiple Choice

The order cycle is ___________.

• A)the time that it takes for a check to clear
• B)the time that it takes from when a customer places an order until the selling firm receives the order
• C)also called the replenishment cycle
• D)also called the vendor cycle

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Definitions:

FIFO

First-In, First-Out, an inventory management and valuation method where goods produced or acquired first are sold or used first.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, prior to any purchases or production taking place.

Current Year

Refers to the ongoing calendar or fiscal year, often used in accounting and reporting to denote the present period.

LIFO

"Last In, First Out," an inventory valuation method where the goods purchased last are the first ones to be used or sold.