Accountıng I Deneme Sınavı Sorusu #1313773
I- Sell the inventory
II- Purchase inventory
III- Collect cash from customers
Which of the above are included in the operating cycle of a merchandising company?
Only I |
Only II |
I and II |
II and III |
I, II and III |
Yanıt Açıklaması:
The operating cycle of a merchandising company starts with the purchase of inventories from a producer or an individual, called a vendor. Then these inventories are sold to customers, either in cash or on account. When the cash is collected from customers, the operating cycle ends the first round.
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