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  1. The production cycle            .

    1. is the net period from the start of cash outflow for producing a product or service until the associated cash inflow materializes from the sale of that product or service

    2. begins at the time that a firm first starts to make a product and lasts until the time that the customer buys the product

    3. starts when production begins and ends with the collection of cash from the sale of the product

    4. starts when the customer takes delivery of the product and ends when the firm receives payment for the product

  2. Using the following information, the inventory turnover for the company is            .

    1. 23.53 times

    2. 53.33 times

    3. 48.00 times

    4. 60.00 times

      2014 Selected Income Statement Items for Perfect Purchase ...

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