For the purpose of classifying liabilities as current or non-current, the term operating cycle refers to a.

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For the purpose of classifying liabilities as current or non-current, the term operating cycle refers to

a. the average time period between business recessions.

b. the time period between date of sale and the date the related revenue is collected.

c. the time period between purchase of merchandise and the conversion of this merchandise back to cash.

d. a period of one year.

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Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

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