The last step in the operating cycle is the
A)sale of merchandise inventory for cash or on credit.
B)payment for purchases made on credit.
C)collection of cash from credit sales.
D)purchase of merchandise inventory for cash or on credit.

Question

Quizplus · Accepted Answer

The last step in the operating cycle is the collection of cash from credit sales, as this completes the cycle of purchasing inventory, selling it, and finally collecting the proceeds from sales.

The Last Step in the Operating Cycle Is the