The Average Length of Time It Takes for a Retail

question 40

Multiple Choice

The average length of time it takes for a retail business to acquire inventory, sell it to its customers and collect the cash owing is called the:

• A) accounting cycle.
• B) operating cycle.
• C) inventory turnover.
• D) accounting period.

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Definitions:

Garbage

Waste material or unwanted items that are discarded by individuals or communities.

Allowance

An allocated amount of money given regularly for a specific purpose, such as to a child by their parents or to an employee for expenses.

Allowance

An amount of money given regularly for a specific purpose or to cover expenses, often by parents to their children.

Lollipops

A type of confectionery consisting mainly of hardened, flavored sucrose with corn syrup mounted on a stick.