10. Eric just graduated with his finance degree and he is confused to which one of the following statements is NOT true? a. The process by which many entrepreneurs raise 'seed' money and obtain other resources necessary to start their businesses is often called bootstrapping. b. Most businesses are started by an entrepreneur who has a vision for a new business or product and a passionate belief in the concept's viability. c. The initial 'seed' money usually comes from the entrepreneur or other founders, d. The seed money is spent on developing an initial public offering. d. All of the above are true statements. 12. KMG Company estimates that it takes the company 27 days on average to pay off its suppliers. It also knows that it has days' sales in inventory of 43 days and days sales' outstanding of 45 days. What is its cash conversion cycle? a. 61 days b. 115 days c. 57 days