FINANCING AND OPERATING CYCLES Which of the following activities belong to the operating cycle, and which belong to the financial cycle?

a. Collection of cash from customers

b. Payment of dividends to stockholders

c. Acquisition of goods for resale

d. Borrowing of cash from a bank

e. Receipt of cash from owners in exchange for capital stock

f. Performance of services for customers g. Acquisition of raw materials for manufacture of salable products h. Repayment to a lender of an amount borrowed i. Delivery of goods to customers Exercise