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1)Which of the following statements best describes the operating cycle concept? An operating cycle is any 12-month period that a firm uses for its fiscal year
1)Which of the following statements best describes the operating cycle concept? An operating cycle is any 12-month period that a firm uses for its fiscal year. An operating cycle is the time between the purchase of inventory and the conversion of that inventory back into cash An operating cycle is the average number of days required to sell inventory. An operating cycle is the average number of days required to collect receivables.
2)Consumers who purchase Apple products are eligible for AppleCare, have access to free in-store tutorials and can get online product support. These extra features are an example of 01:16:00 Multiple Choice eBook an associated service the product position product style
Expert Solution
1)
Answer : Correct Option is An Operating Cycle is the time between the purchase of inventory and the conversion of that inventory back into cash.
Reason :
An Operating Cycle (OC) means number of days required for a business to purchase the inventory, sell them & collect cash from sale of inventory.
2)
Consumers who purchase Apple products are eligible for Apple Care, have access to free in store tutorials and can get online product support. These extra features are an example of;
An associated service.
Associated service is the extra feature provided by the company to the customers who bought their product.
Product position is the image of the company in minds of the customers.
Product style means the appearance, design etc of the product.
In this case, the comapny provides an associated service along with their product.
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