A firm's operating cycle $(OC)$ is the time from the beginning of the production process to collection of cash from the sale of the finished product. The operating cycle encompasses two major short$-$term asset categories, which are $$ and

$$

a$.$ inventory and accounts receivable

b$.$ accounts receivabie and investment income

c$.$ cash flow and inventory

d$.$ accounts payable and accounts receivable

e$.$ accounts payable and cash flow