All of the following statements, except one, help explain how Walmart is able to survive with a current ratio of less than 1. Which statement is not a valid explanation? (This question may require your own research).

it has large operating cash inflows

they have a long operating cycle

they use their buying power to get extended credit terms from their suppliers, hence they have a very large balance of accounts payable

due to the fact that they are a cash-and-carry company, their accounts receivable are relatively low compared to other types of companies

they have a short operating cycle