Question
Which of the following is a difference between the accounting cycle and the operating cycle? The accounting cycle covers a period of time that may
Which of the following is a difference between the accounting cycle and the operating cycle?
The accounting cycle covers a period of time that may vary.
The accounting cycle covers a certain period of time.
The accounting cycle covers a period of time that is not set in advance, but lasts as long as it takes for the company's goods or services to be converted to cash.
The information considered in the accounting cycle includes items such as goods for sale, and the operating cycle involves using information from a ledger to create financial statements.
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