1. You determined the following information for Monroe, Inc.: It has a receivables turnover rate of 17.8 a payables turnover rate of 12.5 and an inventory turnover rate of 24.9. What is the length of the firm's operating cycle?

   		43.86 days
   		49.71 days
   		34.89 days
   		39.80 days
   		35.61 days

2. The Music Store provides credit terms of 1/3, net 30. How long is the net credit period?

   		1 day
   		3 days
   		30 days
   		27 days
   		33 days