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9) Which of the following statements best describes what takes place during the operating cycle? A) Cash is converted to trading assets (accounts receivable and
9) Which of the following statements best describes what takes place during the operating cycle?
A) Cash is converted to trading assets (accounts receivable and inventory) and then back to cash. B) Fixed assets are acquired for use in operations. C) Goods or services are produced and sold. D) Payment is collected from customers.
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