The length of time between the purchase of inventory and the receipt of cash from the sale of that inventory is called the:

1.	The length of time between the purchase of inventory and the receipt of cash from the sale of that inventory is called the:    A.  operating cycle. B.  inventory period. C.  accounts receivable period. D.  accounts payable period. E.  cash cycle. Refer to section 18.2

2.	The length of time that elapses between the day a firm purchases an inventory item and the day that item sells is called the:    A.  operating cycle. B.  inventory period. C.  accounts receivable period. D.  accounts payable period. E.  cash cycle. Refer to section 18.2

3.	The length of time between the sale of inventory and the collection of the payment for that sale is called the:    A.  operating cycle. B.  inventory period. C.  accounts receivable period. D.  accounts payable period. E.  cash cycle. Refer to section 18.2

4.	The length of time between the day a firm purchases an item from its supplier until the day that supplier is paid for that purchase is called the:    A.  operating cycle. B.  inventory period. C.  accounts receivable period. D.  accounts payable period. E.  cash cycle. Refer to section 18.2