Other things being equal, the longer a company's operating cycle, the higher the company's operating costs are likely to be.
Answer the following statement true (T) or false (F)
True
The length of the operating cycle is the average time it takes a business to convert inventory to accounts receivable plus the time it takes to convert accounts receivable into cash. The longer the operating cycle takes, the more it costs the company.
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The inventory of a(n)_____________consists of three distinct types of costs: direct materials, direct labor, and manufacturing overhead
Fill in the blank(s) with correct word
Stop-N-Go and Circle K–small stores that serve consumers willing to pay a higher price for the ease of buying staples close to home–are ________
A) specialty stores B) convenience stores C) supermarkets D) hypermarkets E) off-price retailers
A set of tools that are used to store, manage, and present information sources, such as customer information, documents, policies, procedures, and incident resolutions are called a ____.
A. knowledge base B. knowledge management system C. problem database D. known error database
Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for Year 2:(a) accounts receivable turnover(b) day's sales uncollected(c) inventory turnover(d) days' sales in inventory? Year 2Year 1Sales$ 720,000$607,500Cost of goods sold450,000382,700Operating expenses168,500134,900Net income51,20051,700????December 31,December 31,?Year 2Year 1Accounts receivable (net)$ 157,500$162,500Inventory139,500110,500Total assets1,012,500944,800
What will be an ideal response?